Dow Jones Rises on Strong Jobs Report and Tech Sector Performance

The Dow Jones Industrial Average (DJIA) gained momentum Friday, buoyed by a better-than-expected U.S. jobs report and sustained strength in the technology sector. Nonfarm payrolls added 139,000 jobs in May, surpassing economist forecasts of 126,000, though down from April's 147,000. Unemployment held steady at 4.2%, maintaining its narrow 4.0%-4.2% range since May 2024.

Market sentiment received an additional boost from political commentary. "GREAT JOB NUMBERS, STOCK MARKET UP BIG! AT THE SAME TIME, BILLIONS POURING IN FROM TARIFFS!!!," former President TRUMP declared on Truth Social, while pressuring the Federal Reserve for aggressive rate cuts.

Interest rate expectations solidified following the economic data, with traders pricing near-certainty (99.9%) of unchanged rates at the June FOMC meeting. The July meeting shows an 83.4% probability of maintaining current rates, with only marginal (0.1%) chance of a hike.