Investor hopes for a soft landing for the U.S. economy will be tested next week with the release of key labor market data. The S&P 500 index is up 20% year-to-date, driven by rate cuts and hopes of controlled inflation. The upcoming jobs report could influence future Federal Reserve decisions.
Nasdaq rises 1%, Dow, S&P close higher as weak jobs data tempers rate hike bets
U.S. stocks finished higher following a weaker-than-expected jobs report which eased rate hike expectations. Nonfarm payrolls rose by only 29,000, significantly below economists’ forecasts of