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03-08

Nasdaq Climbs 1% As Jobs Data Strengthens Rate Cut Bets; Nvidia Rises 4% While AMD Jumps 6%

The S&P 500 and the Nasdaq hit new intra-day record highs on Friday after data showing a rise in the unemployment rate and moderation in wage gains bolstered expectations that the Fed could begin cutt

Nasdaq Climbs 1% As Jobs Data Strengthens Rate Cut Bets; Nvidia Rises 4% While AMD Jumps 6%

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Rivals <a href=\"https://laohu8.com/S/AMD\">Advanced Micro Devices </a> rose 7.18%.</p><p>At 10:30 a.m. ET, the Dow Jones Industrial Average (.DJI) was up 66.71 points, or 0.17%; the S&amp;P 500 was up 29.45 points, or 0.57%; and the Nasdaq Composite was up 173.64 points, or 1.07%.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/db2ee0f6b54a2dd8c209fe63946126cd\" tg-width=\"945\" tg-height=\"156\"/></p><p>U.S. job growth accelerated in February, with nonfarm payrolls increasing by 275,000 jobs against an expected 200,000 rise. 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Rivals <a href=\"https://laohu8.com/S/AMD\">Advanced Micro Devices </a> rose 7.18%.</p><p>At 10:30 a.m. ET, the Dow Jones Industrial Average (.DJI) was up 66.71 points, or 0.17%; the S&amp;P 500 was up 29.45 points, or 0.57%; and the Nasdaq Composite was up 173.64 points, or 1.07%.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/db2ee0f6b54a2dd8c209fe63946126cd\" tg-width=\"945\" tg-height=\"156\"/></p><p>U.S. job growth accelerated in February, with nonfarm payrolls increasing by 275,000 jobs against an expected 200,000 rise. Data for January, however, was revised lower to show that 229,000 jobs were created.</p><p>The unemployment rate rose to 3.9% in February after holding at 3.7% for three straight months, while wage growth slowed to 0.1% on a monthly basis.</p><p>&#34;At the end of the day this was a pretty dovish print because we had slower wage gains,&#34; said Cameron Dawson, chief investment officer of NewEdge Wealth in New York.</p><p>&#34;As of right now, the labor market is tight and healthy. However, it&#39;s not as hot as it was, which takes some of the inflation pressure off.&#34;</p><p>Traders now see an 81.1% chance of the Federal Reserve cutting interest rates in June, compared with 74.4% before Friday&#39;s data, according to CME&#39;s FedWatch Tool.</p><p>Among the 11 major S&amp;P 500 sectors, consumer staples was the biggest loser.</p><p>The benchmark S&amp;P 500 index closed at a record high on Thursday after Fed Chair Jerome Powell said the central bank was &#34;not far&#34; from gaining the confidence that inflation is falling sufficiently to begin cutting interest rates.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯",".IXIC":"NASDAQ Composite"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1108826885","content_text":"The S&P 500 and the Nasdaq hit new intra-day record highs on Friday after data showing a rise in the unemployment rate and moderation in wage gains bolstered expectations that the Fed could begin cutting interest rates by the middle of this year.AI darling Nvidia  rose 4.94% and outperforming megacap growth and technology peers. 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