The three major U.S. indexes rose more than 0.8% on Thursday, with the S&P 500 and Nasdaq 100 closing at record highs as nonfarm payrolls rose by 147,000 in June, well above consensus estimates of 110,000, and the unemployment rate unexpectedly fell to 4.1%, reinforcing views of a resilient economy.
Tech leaders advanced, with Nvidia up 1.3% and Synopsys jumping 4.2% on strong earnings momentum driven by AI and the White House's decision to lift export restrictions on chip design software to China. Meanwhile, broader market optimism was supported by progress on a U.S.-Vietnam trade deal and near-final approval by the House of Representatives of President Trump's $3.4 trillion tax and spending bill.
Chip design companies Cadence Design and Synopsys each rose about 5%, and Datadog jumped 10% after being immediately included in the S&P?500. The market will close early today and remain closed Friday for Independence Day. (alg)
Source: Trading Economics
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