The recent US employment figures were seen as a gold rush scenario in the stock market, where the economy grows without an increase in inflation. The New York stock market experienced a significant rise on Friday following the release of fresh macro data. The S&P 500 index closed up 1.3 percent, reaching 5,128 points, which CNBC described as the best increase since February. The Dow Jones index rose 1.2 percent, while the Nasdaq, which focuses on technology, increased by two percent.
The positive response from investors to the labor market report was compared to a gold rush scenario, signaling relief from inflationary pressures and expectations for interest rate cuts by the Federal Reserve. There had been concerns in the stock market about potential changes in the Fed’s monetary policy and rising interest rates to combat inflation. However, Friday’s market activity suggested that inflation might be easing, paving the way for potential interest rate cuts later in the year.
Stock prices on Wall Street surged as weaker-than-expected US labor market numbers led investors to anticipate interest rate cuts by the US Federal Reserve. Tech companies like Apple also contributed to the positive stock market performance on Friday, with Apple’s stock rising six percent following announcements of a share buyback program and strong interim results. Other technology companies like Nvidia, Microsoft, Alphabet, and Amazon also saw increases in their stock prices. Overall, the market response to the labor market report and other macroeconomic data was positive, indicating investor confidence and optimism in the future economic outlook.
The Helsinki Stock Exchange also closed higher on Friday, reflecting global market trends. The labor market report showed an increase of 175,000 non-agricultural jobs in April
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