On July 3, the S&P 500 reached a new record high following positive employment data. US stocks continue to rise in reaction to fresh economic indicators.
US Stock Market on the Rise
On July 3, the S&P 500 set a new record, while the Dow Jones Industrial Average opened over 100 points higher. The S&P 500 was up nearly 0.5%, and the Nasdaq Composite had added 0.6%. These achievements are a result of positive sentiment in the stock market and upward movement in futures.
US Employment Data
According to the Bureau of Labor Statistics, the US added 147,000 jobs in June, surpassing economists' expectations of 106,000. The strongest job gains were in state government and healthcare, while the federal government continued to cut jobs. The unemployment rate also unexpectedly fell to 4.1%, exceeding forecasts.
Interest Rates and Economic Policy
Amid the positive employment data, bets on a Federal Reserve rate cut in July have declined, with the CME FedWatch Tool now showing a 5% probability. Investors are also closely monitoring President Trump's tax bill, which passed the Senate and awaits final confirmation.
At the beginning of July, stock markets are showing growth due to positive economic data. Investors remain cautious, watching political developments and potential changes in economic policy.
