Latest news with #KristinaHooper
Perth Now
06-07-2025
- Business
- Perth Now
S&P 500, Nasdaq close at records on jobs data
Wall Street has rallied to record highs after a surprisingly strong US jobs report cheered investors, who shrugged off dimming chances for a US interest rate cut this month. Chip-maker Nvidia also rose closer to a $US4 trillion ($A6.1 trillion) valuation on Thursday. The S&P 500 and Nasdaq closed at record highs, notching a third week of gains. The Dow closed up 0.77 per cent, near its own record. Chipmaker Nvidia rose 1.3 per cent, putting its market capitalisation at $US3.89 trillion ($A5.92 trillion). The company is close to overtaking Apple and becoming the world's most valuable company in history. Trading volume was light in a shorter session on the eve of Friday's US Independence Day holiday. "We are seeing a real bout of irrational exuberance; the stock market is very biased towards optimism," said Kristina Hooper, Chief Market Strategist at Man Group in New York. "But there's some basis for it. I think there is some level of relief because the jobs report was not as weak as it could have been." The rally has been fueled by retail investors, who are largely ignoring the inflationary pressure on the horizon, uncertainty around tariffs and "are focused on the tangible, which is today's jobs report," she said. The S&P 500 gained 51.94 points, or 0.83 per cent, to 6,279.36 and the Nasdaq Composite gained 207.97 points, or 1.02 per cent, to 20,601.10. The Dow Jones Industrial Average rose 344.11 points, or 0.77 per cent, to 44,828.53. Data showed nonfarm payrolls increased by 147,000 jobs last month, 33 per cent more than the 110,000 jobs forecasted by economists polled by Reuters. Unemployment fell to 4.1 per cent last month, a better result than the 4.3 per cent expected. Traders quickly priced out chances of an interest-rate cut in July, with the odds of a 25-basis-point reduction in September at 68 per cent, according to CME Group's Fedwatch tool, down from 74 per cent a week ago. Republicans in the US House of Representatives advanced President Donald Trump's massive tax-cut and spending bill toward a final yes-or-no vote, appearing to overcome internal party divisions over its cost. The legislation is expected to add $US3.4 trillion ($A5.2 trillion) to the nation's $US36.2 trillion ($A55.1 trillion) debt over the next decade, according to nonpartisan analysts. Large tax cuts and increased government spending can boost demand in the economy. This can add inflationary pressure, especially when the economy shows signs of strength such as the latest job report. "Some data points like the job report are positive and charming, but if we just take a step back, the picture is not that great," said Alex Morris, CEO of F/m Investments, which manages $US18 billion ($A27 billion) in Washington, D.C. For the week, the S&P 500 gained 1.72 per cent, the Nasdaq rose 1.62 per cent, and the Dow climbed 2.3 per cent. The Russell 2000 Small Cap index rose 3.41 per cent. "It's kind of perplexing," Morris said. "This feels like that last bull rush before all of the data really comes together." Tripadvisor climbed 16.7 per cent after the Wall Street Journal reported activist investor Starboard Value had built a more than nine per cent stake in the online travel company. Datadog jumped 14.9 per cent after the cloud security firm was set to replace Juniper Networks on the S&P 500. When markets closed at the earlier time of 1pm (local time), trading volume on US exchanges was 10.85 billion shares, much lighter than the 17.82 billion average for the full session over the last 20 trading days.
West Australian
06-07-2025
- Business
- West Australian
S&P 500, Nasdaq close at records on jobs data
Wall Street has rallied to record highs after a surprisingly strong US jobs report cheered investors, who shrugged off dimming chances for a US interest rate cut this month. Chip-maker Nvidia also rose closer to a $US4 trillion ($A6.1 trillion) valuation on Thursday. The S&P 500 and Nasdaq closed at record highs, notching a third week of gains. The Dow closed up 0.77 per cent, near its own record. Chipmaker Nvidia rose 1.3 per cent, putting its market capitalisation at $US3.89 trillion ($A5.92 trillion). The company is close to overtaking Apple and becoming the world's most valuable company in history. Trading volume was light in a shorter session on the eve of Friday's US Independence Day holiday. "We are seeing a real bout of irrational exuberance; the stock market is very biased towards optimism," said Kristina Hooper, Chief Market Strategist at Man Group in New York. "But there's some basis for it. I think there is some level of relief because the jobs report was not as weak as it could have been." The rally has been fueled by retail investors, who are largely ignoring the inflationary pressure on the horizon, uncertainty around tariffs and "are focused on the tangible, which is today's jobs report," she said. The S&P 500 gained 51.94 points, or 0.83 per cent, to 6,279.36 and the Nasdaq Composite gained 207.97 points, or 1.02 per cent, to 20,601.10. The Dow Jones Industrial Average rose 344.11 points, or 0.77 per cent, to 44,828.53. Data showed nonfarm payrolls increased by 147,000 jobs last month, 33 per cent more than the 110,000 jobs forecasted by economists polled by Reuters. Unemployment fell to 4.1 per cent last month, a better result than the 4.3 per cent expected. Traders quickly priced out chances of an interest-rate cut in July, with the odds of a 25-basis-point reduction in September at 68 per cent, according to CME Group's Fedwatch tool, down from 74 per cent a week ago. Republicans in the US House of Representatives advanced President Donald Trump's massive tax-cut and spending bill toward a final yes-or-no vote, appearing to overcome internal party divisions over its cost. The legislation is expected to add $US3.4 trillion ($A5.2 trillion) to the nation's $US36.2 trillion ($A55.1 trillion) debt over the next decade, according to nonpartisan analysts. Large tax cuts and increased government spending can boost demand in the economy. This can add inflationary pressure, especially when the economy shows signs of strength such as the latest job report. "Some data points like the job report are positive and charming, but if we just take a step back, the picture is not that great," said Alex Morris, CEO of F/m Investments, which manages $US18 billion ($A27 billion) in Washington, D.C. For the week, the S&P 500 gained 1.72 per cent, the Nasdaq rose 1.62 per cent, and the Dow climbed 2.3 per cent. The Russell 2000 Small Cap index rose 3.41 per cent. "It's kind of perplexing," Morris said. "This feels like that last bull rush before all of the data really comes together." Tripadvisor climbed 16.7 per cent after the Wall Street Journal reported activist investor Starboard Value had built a more than nine per cent stake in the online travel company. Datadog jumped 14.9 per cent after the cloud security firm was set to replace Juniper Networks on the S&P 500. When markets closed at the earlier time of 1pm (local time), trading volume on US exchanges was 10.85 billion shares, much lighter than the 17.82 billion average for the full session over the last 20 trading days.
Zawya
04-07-2025
- Business
- Zawya
US Stocks: S&P 500, Nasdaq close at records on jobs data; Nvidia market cap nears $4trln
NEW YORK: Wall Street rallied on Thursday to record closing highs, as chipmaker Nvidia rose closer to a $4 trillion valuation and a surprisingly strong U.S. jobs report cheered investors, who shrugged off dimming chances for an interest rate cut this month. The S&P 500 and Nasdaq closed at record highs, notching a third week of gains. The Dow closed up 0.77%, only 0.41% away from its own record. Chipmaker Nvidia rose 1.3%, putting its market capitalization at $3.89 trillion. The company is close to overtaking Apple's all-time record and becoming the world's most valuable company in history. Trading volume was light in a shorter session on the eve of Friday's U.S. Independence Day holiday. "We are seeing a real bout of irrational exuberance; the stock market is very biased towards optimism," said Kristina Hooper, Chief Market Strategist at Man Group in New York. "But there's some basis for it. I think there is some level of relief because the jobs report was not as weak as it could have been." The rally has been fueled by retail investors, who are largely ignoring the inflationary pressure on the horizon, uncertainty around tariffs and "are focused on the tangible, which is today's jobs report," she said. The S&P 500 gained 51.94 points, or 0.83%, to 6,279.36 and the Nasdaq Composite gained 207.97 points, or 1.02%, to 20,601.10. The Dow Jones Industrial Average rose 344.11 points, or 0.77%, to 44,828.53. Data showed nonfarm payrolls increased by 147,000 jobs last month, 33% more than the 110,000 jobs forecasted by economists polled by Reuters. Unemployment fell to 4.1% last month, a better result than the 4.3% expected. Traders quickly priced out chances of an interest-rate cut in July, with the odds of a 25-basis-point reduction in September at 68%, according to CME Group's Fedwatch tool, down from 74% a week ago. After markets closed, Republicans in the U.S. House of Representatives approved President Donald Trump's massive tax-cut and spending bill, an expected outcome. The legislation will add $3.4 trillion to the nation's $36.2 trillion debt, according to the nonpartisan Congressional Budget Office, and will also push millions of Americans off health insurance. Large tax cuts and increased government spending can boost demand in the economy. This can add inflationary pressure, especially when the economy shows signs of strength, such as the latest jobs report. "Some data points, like the jobs report, are positive and charming. But if we just take a step back, the picture is not that great," said Alex Morris, CEO of F/m Investments, which manages $18 billion in Washington, D.C. For the week, the S&P 500 gained 1.72%, the Nasdaq rose 1.62%, and the Dow climbed 2.3%. The Russell 2000 Small Cap index rose 3.41%. "It's kind of perplexing," Morris said. "This feels like that last bull rush before all of the data really comes together." Tripadvisor climbed 16.7% after the Wall Street Journal reported activist investor Starboard Value had built a stake of more than 9% in the online travel company. Datadog jumped 14.9% after the cloud security firm was set to replace Juniper Networks on the S&P 500. Markets closed at 1 p.m. ET. Trading volume on U.S. exchanges was 10.85 billion shares, much lighter than the 17.82 billion average for the full session over the last 20 trading days. (Reporting by Sabrina Valle In New York, Sruthi Shankar in Bengaluru; Editing by Pooja Desai and David Gregorio)
Time of India
04-07-2025
- Business
- Time of India
S&P 500, Nasdaq close at records on jobs data; Nvidia market cap nears $4 trillion
Chipmaker Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Wall Street rallied to record highs Thursday, as chip-maker Nvidia rose closer to a $4 trillion valuation and a surprisingly strong U.S. jobs report cheered investors, who shrugged off dimming chances for a U.S. interest rate cut next S&P 500 and Nasdaq closed at record highs, notching a third week of gains. The Dow closed up 0.41%, near its own rose 1.3%, putting its market capitalization at $3.89 trillion. The company is close to overtaking Apple and becoming the world's most valuable company in volume was light in a shorter session on the eve of Friday's U.S. Independence Day holiday."We are seeing a real bout of irrational exuberance; the stock market is very biased towards optimism," said Kristina Hooper, Chief Market Strategist at Man Group in New York."But there's some basis for it. I think there is some level of relief because the jobs report was not as weak as it could have been."The rally has been fueled by retail investors, who are largely ignoring the inflationary pressure on the horizon, uncertainty around tariffs and "are focused on the tangible, which is today's jobs report," she S&P 500 gained 51.94 points, or 0.83%, to 6,279.36 and the Nasdaq Composite gained 207.97 points, or 1.02%, to 20,601.10. The Dow Jones Industrial Average rose 344.11 points, or 0.77%, to 44, showed nonfarm payrolls increased by 147,000 jobs last month, 33% more than the 110,000 jobs forecasted by economists polled by Reuters. Unemployment fell to 4.1% last month, a better result than the 4.3% quickly priced out chances of an interest-rate cut in July, with the odds of a 25-basis-point reduction in September at 68%, according to CME Group's Fedwatch tool, down from 74% a week in the U.S. House of Representatives advanced President Donald Trump's massive tax-cut and spending bill toward a final yes-or-no vote, appearing to overcome internal party divisions over its legislation is expected to add $3.4 trillion to the nation's $36.2 trillion debt over the next decade, according to nonpartisan tax cuts and increased government spending can boost demand in the economy. This can add inflationary pressure, especially when the economy shows signs of strength such as the latest job report."Some data points like the job report are positive and charming, but if we just take a step back, the picture is not that great," said Alex Morris, CEO of F/m Investments, which manages $18 billion in Washington, the week, the S&P 500 gained 1.72%, the Nasdaq rose 1.62%, and the Dow climbed 2.3%. The Russell 2000 Small Cap index rose 3.41%."It's kind of perplexing," Morris said. "This feels like that last bull rush before all of the data really comes together." Tripadvisor climbed 16.7% after the Wall Street Journal reported activist investor Starboard Value had built a more than 9% stake in the online travel company. Datadog jumped 14.9% after the cloud security firm was set to replace Juniper Networks on the S&P closed early at 1 p.m. ET. Trading volume on U.S. exchanges was 10.85 billion shares, much lighter than the 17.82 billion average for the full session over the last 20 trading days.
Economic Times
04-07-2025
- Business
- Economic Times
S&P 500, Nasdaq close at records on jobs data; Nvidia market cap nears $4 trillion
Wall Street saw record highs as Nvidia neared a $4 trillion valuation. A strong US jobs report boosted investor confidence. The S&P 500 and Nasdaq closed at record levels, marking a third week of gains. The Dow also closed higher. However, chances of an interest rate cut next month decreased. The market closed early ahead of Independence Day. Tired of too many ads? Remove Ads Chipmaker Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Wall Street rallied to record highs Thursday, as chip-maker Nvidia rose closer to a $4 trillion valuation and a surprisingly strong U.S. jobs report cheered investors, who shrugged off dimming chances for a U.S. interest rate cut next S&P 500 and Nasdaq closed at record highs, notching a third week of gains. The Dow closed up 0.41%, near its own rose 1.3%, putting its market capitalization at $3.89 trillion. The company is close to overtaking Apple and becoming the world's most valuable company in volume was light in a shorter session on the eve of Friday's U.S. Independence Day holiday."We are seeing a real bout of irrational exuberance; the stock market is very biased towards optimism," said Kristina Hooper, Chief Market Strategist at Man Group in New York."But there's some basis for it. I think there is some level of relief because the jobs report was not as weak as it could have been."The rally has been fueled by retail investors, who are largely ignoring the inflationary pressure on the horizon, uncertainty around tariffs and "are focused on the tangible, which is today's jobs report," she S&P 500 gained 51.94 points, or 0.83%, to 6,279.36 and the Nasdaq Composite gained 207.97 points, or 1.02%, to 20,601.10. The Dow Jones Industrial Average rose 344.11 points, or 0.77%, to 44, showed nonfarm payrolls increased by 147,000 jobs last month, 33% more than the 110,000 jobs forecasted by economists polled by Reuters. Unemployment fell to 4.1% last month, a better result than the 4.3% quickly priced out chances of an interest-rate cut in July, with the odds of a 25-basis-point reduction in September at 68%, according to CME Group's Fedwatch tool, down from 74% a week in the U.S. House of Representatives advanced President Donald Trump's massive tax-cut and spending bill toward a final yes-or-no vote, appearing to overcome internal party divisions over its legislation is expected to add $3.4 trillion to the nation's $36.2 trillion debt over the next decade, according to nonpartisan tax cuts and increased government spending can boost demand in the economy. This can add inflationary pressure, especially when the economy shows signs of strength such as the latest job report."Some data points like the job report are positive and charming, but if we just take a step back, the picture is not that great," said Alex Morris, CEO of F/m Investments, which manages $18 billion in Washington, the week, the S&P 500 gained 1.72%, the Nasdaq rose 1.62%, and the Dow climbed 2.3%. The Russell 2000 Small Cap index rose 3.41%."It's kind of perplexing," Morris said. "This feels like that last bull rush before all of the data really comes together." Tripadvisor climbed 16.7% after the Wall Street Journal reported activist investor Starboard Value had built a more than 9% stake in the online travel company. Datadog jumped 14.9% after the cloud security firm was set to replace Juniper Networks on the S&P closed early at 1 p.m. ET. Trading volume on U.S. exchanges was 10.85 billion shares, much lighter than the 17.82 billion average for the full session over the last 20 trading days.
