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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