U.S. stocks surged on Thursday, July 3, with the S&P 500 notching a fresh record high and the Dow Jones Industrial Average opening solidly in the green. Investors cheered the latest jobs report, which showed the labor market is holding up better than expected.<\/p>\n\n\n\n
At the open, the Dow was up more than 100 points, while both the S&P 500 and Nasdaq Composite edged into new all-time highs. Early trading saw the S&P 500 gaining nearly 0.5%, and the Nasdaq rising by about 0.6%. The positive start followed overnight momentum in futures markets, where the S&P 500 hovered just under its previous record.<\/p>\n\n\n\n
The Dow, now trading at around 44,782, is edging closer to the symbolic 45,000 mark \u2014 an impressive climb from the 38,000 level seen back in April.<\/p>\n\n\n\n
Jobs Report Beats Expectations<\/strong><\/p>\n\n\n\n Driving much of Thursday\u2019s optimism was the non-farm payrolls report from the Bureau of Labor Statistics. The U.S. added 147,000 jobs in June, comfortably topping economists\u2019 forecasts of 106,000. Job gains were strongest in sectors like state government and healthcare, while the federal government continued to lose positions.<\/p>\n\n\n\n The unemployment rate also surprised to the upside, dropping to 4.1%, defying predictions that it would rise to 4.3%.<\/p>\n\n\n\n In May, the economy had added 144,000 jobs, revised upward from the previously reported 139,000, while the unemployment rate then held steady at 4.2%.<\/p>\n\n\n\n The latest figures come on the heels of ADP\u2019s private payrolls report released Wednesday, which showed a decline of 33,000 private-sector jobs in June a stark contrast to the government\u2019s stronger numbers.<\/p>\n\n\n\n Rate Cut Bets Slide<\/strong><\/p>\n\n\n\n Despite the solid jobs data boosting equities, it\u2019s thrown cold water on hopes for an imminent interest rate cut from the Federal Reserve. The CME FedWatch Tool now indicates markets are pricing in only a 5% chance of a rate cut in July, down sharply from 24% just a day earlier.<\/p>\n\n\n\n Other Factors in Focus<\/strong><\/p>\n\n\n\n Investors are also keeping an eye on Washington, where President Donald Trump\u2019s tax bill continues to dominate headlines. The U.S. Senate passed the sweeping budget bill on July 1, with a final vote still pending after earlier approval from the Republican-controlled House.<\/p>\n\n\n\n Meanwhile, as stocks climbed, Bitcoin also caught a bid, rising 1.81% and helping lift the broader crypto market.<\/p>\n\n\n\n This week is a shortened one for Wall Street, with markets closing early at 1 p.m. ET on Thursday ahead of the Independence Day holiday on July 4, when both the New York Stock Exchange and the Nasdaq will be fully closed.<\/p>\n","protected":false},"excerpt":{"rendered":" U.S. stocks surged on Thursday, July 3, with the S&P 500 notching a fresh record high and the Dow Jones Industrial Average opening solidly in the green. Investors cheered the latest jobs report, which showed the labor market is holding up better than expected. At the open, the Dow was up more than 100 points,…<\/p>\n","protected":false},"author":3,"featured_media":9801,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[63,70],"tags":[1341,1339,1340],"class_list":["post-9800","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-finance","tag-bitcoin-gains","tag-dow-jones","tag-s-p"],"yoast_head":"\n