📈 Dow Jones Latest Update: Market Rises on Hopes of Fed Rate Cuts
The Dow Jones Industrial Average had a strong session on Thursday, climbing by about 328 points (0.7%). The rally came after fresh labor market data suggested the U.S. job market is cooling, raising expectations that the Federal Reserve may cut interest rates soon. The S&P 500 and Nasdaq also gained around 0.6% each, reflecting broad optimism.
🔹 Tech & Blue-Chip Stocks Lift the Dow
Big names led the way, with Amazon jumping nearly 4% and American Express also posting strong gains. Together, these helped drive the Dow higher by over 230 points during midday trading.
🔹 Labor Data Drives Sentiment
Reports from ADP showed weaker private payroll growth, while jobless claims came in higher than expected. Investors took this as a sign that the Fed might move to ease rates sooner. On the other hand, a positive reading from the U.S. services PMI highlighted that the economy is still expanding.
🔹 Mixed Reactions Across the Market
Not all news was upbeat—Salesforce’s stock slipped after offering cautious forward guidance, raising concerns about slower growth in some sectors. Still, overall momentum remained positive as investors balanced optimism about Fed cuts with company-specific challenges.
