Dow Hits Record High as Weak Jobs Report Eases Fed Hike Fears
The Dow Jones Industrial Average closed at a record high, rising more than 1% on Thursday after U.S. nonfarm payrolls increased by just 57,000 in June, well below market expectations. The softer employment data eased investors' concerns about near-term Federal Reserve rate hikes, sending short-term Treasury yields lower and prompting the U.S. dollar to weaken against major developed-market currencies.
Market gains were narrowly concentrated in the Dow, as the Nasdaq Composite dropped more than 3%, extending a sharp sell-off in semiconductor and artificial intelligence-related stocks. The divergence highlighted a broader rotation out of growth and into sectors offering steady earnings and dividends, while traders continue to weigh massive hyperscaler capital expenditures against the pace of realized revenue. Gold rose over 2% and the S&P 500 remained largely flat as investors positioned ahead of the Independence Day holiday.
From the sources (16 posts)
@firstsquawkNASDAQ 100 INDEX EXTENDS DECLINE TO 2 PCT
@cnbcDow rides into new week at record high. What investors are watching ahead
@cnbcTech bulls lose conviction as key trading metric blows out to the widest since 2008
@firstsquawkTECH BULLS LOSE CONVICTION AS KEY TRADING METRIC BLOWS OUT TO THE WIDEST SINCE 2008 – CNBC
@negligible_capGoldman Sachs High Beta Momentum index is having it's worst two-day move since Covid, now down almost 19%.
@firstsquawkRT @RedboxWire: NASDAQ UNOFFICIALLY CLOSES DOWN 211.10 POINTS OR 0.81% AT 25,828.94 S&P 500 UNOFFICIALLY CLOSES DOWN 0.62 POINTS OR 0.01%…
@kobeissiletterBREAKING: The Dow surges nearly +600 points and closes at its highest level on record.
@brewmarketsThe Dow Jones just hit a new record high.
@bulltheoryioTHE MARKET IS QUIETLY ROTATING OUT OF TECH AND AI STOCKS. The Dow just hit an all-time high while the Nasdaq is down 3.13% today. Information Technology is down 2.37%. Meanwhile Healthcare is up 2.31%, Consumer Staples up 2.39%, Utilities
@gurgavin*DOW JONES HIT A NEW ALL TIME HIGH
@morningbrewRT @brewmarkets: The Dow Jones just hit a new record high.
@financialjuiceStocks Gain as Softer Jobs Report Eases Fed Tightening Fears – US Market Wrap
@firstsquawkDOW HITS RECORD AS WEAK JOBS DATA EASES FED HIKE FEARS • U.S. NONFARM PAYROLLS ROSE JUST 57,000 IN JUNE, REDUCING EXPECTATIONS FOR NEAR-TERM FED RATE HIKES • DOW JONES HIT A RECORD HIGH, WHILE THE S&P 500 WAS LITTLE CHANGED AS CHIPMAKERS
@reutersThe Dow rose more than 1% to a record closing high ahead of the long holiday weekend as a softer-than-expected US jobs report eased worries about interest rate hikes, while another sharp drop in chipmaker stocks weighed on the Nasdaq http
@polymarketmoneyJUST IN: The Dow Jones just hit a new all time high.
@reutersbizThe Dow rose more than 1% to a record closing high ahead of the long holiday weekend as a softer-than-expected US jobs report eased worries about interest rate hikes, while another sharp drop in chipmaker stocks weighed on the Nasdaq http