Dow Closes Up 151 Points, S&P 500 Hits Record After US Jobs Data Plunges

Macro
โดย HoonSmart·US·Read original
Summary · why it matters

US stocks closed higher on Friday, with the Dow Jones Industrial Average rising 151.83 points to 54,036.93. The S&P 500 gained 47.68 points to 7,757.64, a record high, and the Nasdaq surged 342.26 points to 26,690.62. The main driver was the US nonfarm payrolls report, which showed a decline of 23,000 jobs in July, sharply missing economists' expectations for an increase of 80,000. This eased market concerns that the Federal Reserve would raise interest rates at its September meeting. According to the CME FedWatch Tool, most traders now expect the Fed to keep its policy rate steady at 3.50% to 3.75%. Software stocks boosted the market on strong earnings, with Cloudflare jumping over 5%, Atlassian soaring 35%, and Airbnb climbing 17% after reporting better-than-expected results. In European markets, the STOXX 600 index closed at 660.25, up 0.31%, marking a record high for the fourth straight session, supported by tech stocks and positive corporate earnings.

Impact on stocks 5

Cloud & Digital Infrastructure · 2 stocks
Cloudflare Inc
NET
▲ PositiveCapitalrelevance

Cloudflare jumped over 5% on strong earnings, reflecting positive financial performance.

Atlassian Corp Plc
TEAM
▲ PositiveCapitalrelevance

Atlassian soared 35% after reporting better-than-expected results, driven by strong earnings.

Consumer Discretionary · 1 stocks
Airbnb Inc
ABNB
▲ PositiveDemandrelevance

Airbnb climbed 17% after reporting better-than-expected results, indicating strong demand for its services.

Others · 2 stocks
Effective Federal Funds Rate
EFFR
▼ NegativeMonetaryrelevance

Weak jobs data reduces likelihood of Fed rate hike, leading to expectations of steady rates, which is negative for the effective federal funds rate as it stays low.

United States Government Bond 10Y
US-10Y
▼ NegativeMonetaryrelevance

Weak jobs data reduces likelihood of Fed rate hike, leading to expectations of steady rates, which is negative for the 10-year yield as it stays low.