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Nasdaq hits record high as jobs data ease rate-hike fears

Original: Nasdaq hits record high after softer jobs data tempers rate-hike bets

The Nasdaq climbed to a record high after US jobs data came in softer than expected, easing expectations of further interest rate hikes by the Federal Reserve. Investors welcomed the signs of a cooling labour market, sending technology stocks sharply higher and lifting sentiment across global markets.

Why now: Softer jobs data shifted expectations for Federal Reserve rate policy, driving a major stock rally.

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Evidence

• Nasdaq hits record high after softer jobs data tempers rate-hike bets · Reuters

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