Nvidia has fallen, and bitcoin has crashed, but the US stock market continues to move forward under heavy pressure.
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Non-farm employment boosts the expectation of interest rate cuts, S&P Nasdaq hits new highs again, Tesla rose nearly 38% in eight days, Nvidia stalled, and US Treasury yields fell sharply.
The US non-farm payroll report strengthens expectations of an interest rate cut in September. The US non-farm payroll report shows that 206,000 new jobs were added in June, higher than the expected 190,000, but significant downward adjustments in non-farm new employment in April and May offset the impact of June's better-than-expected numbers. In addition, the unemployment rate unexpectedly rose to its highest level in two and a half years, while wage growth fell to its lowest level in three years, increasing signs of a cooling labor market in the United States. Commentators say that solidifying expectations of an interest rate cut in September will require support from another round of data, as well as more importantly, inflation data next week and data next month. Analysts also say that recent data is "
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Nvidia has been downgraded rarely, and analysts have expressed concerns about its valuation. The stock price fell more than 2% at one point.
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The US non-farm payrolls boost expectations of interest rate cuts, with the Nasdaq leading the way higher. The 'Seven Sisters' rise, but Nvidia falls 2%, and Xpeng briefly drops more than 10%.
On Friday, July 5th, the positive news of a rate cut in June's non-farm payroll in the United States boosted the Nasdaq, and the S&P 500 and Dow Jones also turned up. The Nasdaq, mainly composed of technology stocks, rose further after three consecutive days of record closing highs, with intraday gains expanding by 110.8 points or 0.6%. After opening high, the S&P 500 fell and widened its decline to nearly 0.1%, but recovered slightly later. The Dow Jones, which brings together blue-chip stocks, bounced back after an intraday fall of more than 139 points or over 0.35%. Most of the growth tech stocks rose, with large technology stocks rising all the way, and the "Metaverse" Meta rose by 3.7%. Google A rose to 2.2%, and Netflix rose.
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