Stock market today: Dow, S&P 500, Nasdaq futures edge higher after better-than-expected jobs report
How did your country report this? Share your view in the comments.
Diverging Reports Breakdown
Stock market today: Dow, S&P 500, Nasdaq futures edge higher after better-than-expected jobs report
S&P 500 futures rose 0.2% after closing at an all-time high on Wednesday. June jobs report showed an increase of 147,000 jobs last month, versus expectations of 106,000. The unemployment rate unexpectedly ticked down to 4.1%. US stock trading will end early on Thursday at 1 p.m. ET for the Independence Day holiday and remain closed on Friday.. The US has lifted curbs on exports of chip design software to China, a sign of thawing in trade tensions.
S&P 500 futures (ES=F) rose 0.2% after closing at an all-time high on Wednesday. Contracts on the Dow Jones Industrial Average (YM=F) gained 0.1%, and those on the tech-heavy Nasdaq 100 (NQ=F) rose 0.3%.
The June jobs report showed an increase of 147,000 jobs last month, versus expectations of 106,000. The May payrolls print was revised to the upside. The unemployment rate unexpectedly ticked down to 4.1%.
Recent signs of a softening in the labor market have given investors a new wave of confidence that a Federal Reserve interest rate cut could come soon, as labor market cooling strengthens the case for easing.
Trump’s ongoing feud with its chair, Jerome Powell — particularly reports he may announce a successor early — have further raised hopes for a reduction in rates. The president said Powell “should resign immediately” in a social media post late Wednesday, ramping up an already intense White House pressure campaign.
Investors are also on alert for fresh developments on the trade front, as countries race to beat the July 9 deadline for the resumption of sweeping tariffs. Trump’s trade deal with Vietnam has boosted market sentiment and hopes for more agreements to fend off economic damage from tariffs.
Read more: The latest on Trump’s tariffs
The US has lifted curbs on exports of chip design software to China, a sign of thawing in trade tensions between the world’s top two economies. Shares of leading US providers of the software, Synopsys (SNPS) and Cadence Design Systems (CDNS), jumped in premarket trading.
Meanwhile, the president’s massive tax and spending bill is nearing a final vote after it cleared a key House procedural vote on Thursday. House Speaker Mike Johnson said he has the backing to get the legislation passed by Friday, July 4, Trump’s deadline, as Republican leaders win over opponents.
US stock trading will end early on Thursday at 1 p.m. ET for the Independence Day holiday and remain closed on Friday.
LIVE
9 updates