Saturday, July 05, 2025

US_ Stocks Hit Record, US Dollar Firms After Jobs Data

NEWSMAX 

Stocks Hit Record, US Dollar Firms After Jobs Data


Trader Jason Hardzewicz works on the floor of the New York Stock Exchange, July 1, 2025. (Richard Drew/AP) 

Thursday, 03 July 2025 02:34 PM EDT 


Global stocks climbed to a record for a second straight session Thursday and the dollar rallied after a stronger than expected U.S. payrolls report indicated the labor market may not be deteriorating rapidly. 

The Labor Department said nonfarm payrolls increased by 147,000 jobs last month after an upwardly revised 144,000 advance in May, well above the 110,000 estimate of economists polled by Reuters. 

Markets dialed back expectations for rate cuts this year from the U.S. Federal Reserve in the wake of the data, with the nearly 25% chance for a cut all but evaporating, while expectations for a September cut are down to about 75% from nearly 98% before the jobs report was released, according to LSEG data. 

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READ MORE: https://www.newsmax.com/finance/streettalk/stocks-record-jobs/2025/07/03/id/1217514/ 

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