News Formal

Stock market today: Stocks rise after February jobs report

  • 📰 YahooFinanceCA
  • ⏱ Reading Time:
  • 22 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 63%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

All eyes are on the crucial monthly jobs report that could shift the needle on the timing of interest rate cuts.

Stocks climbed on Friday after the February jobs report showed an uptick in the unemployment rate, bolstering investor confidence that the Federal Reserve will cut rates following its June meeting. The S&P 500 rose 0.3% on the heels of another record close logged Thursday, while the Dow Jones Industrial Average increased by 0.2%. The tech-heavy Nasdaq Composite added 0.3% after a sharp gain the previous day. The small cap Russell 2000 also topped its 52-week high.

The market received a boost this week as Chair Jerome Powell told lawmakers that the Federal Reserve is "not far" from being confident inflation is in the right place for the central bank to start bringing down borrowing costs. Showing how the wind is blowing elsewhere, policymakers from the European Central Bank lined up to support a rate cut before their summer break as inflation falls faster than expected.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 47. in CA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market today: Stocks build on record-setting rallyThe market is kicking off March in a subdued mood as the relief sparked by the PCE reading wears off.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Stocks waver after Fed's preferred inflation gauge meets expectationsInvestors are on edge for the PCE reading, seen as key to assessing how quickly the Fed will start cutting rates.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: US stocks mixed as Wall Street watches and waitsStocks have lost momentum as investors regroup after the tumultuous run-up last week and as focus sharpens on the health of the US economy.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Stocks little changed following record-setting weekStocks are stacking up gains again after Nvidia results sparked a global rally that has the chipmaker eyeing a $2 trillion valuation.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: US stocks fall as tech, rate-cut doubts creep inUncertainty over Fed interest rate cuts and the continued strength of tech stocks has brought caution to the market.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »