US Stocks Hit Records Amid Jobs Data Revision; Inflation Watch Begins

Wall Street rallied to fresh highs as a steeper-than-expected downward revision of US job growth fueled bets on imminent Federal Reserve rate cuts. The Dow, S&P 500, and Nasdaq Composite all notched record closes, with tech stocks extending their leadership.

Labor Department data revealed 911,000 fewer jobs were created over the past year than initially reported - exceeding economists' forecasts. The erosion in employment figures strengthens the case for monetary policy easing, shifting market focus to Wednesday's inflation prints for confirmation.

Traders now price in near-certain rate reductions at next week's Fed meeting, with the debate centering on the magnitude of cuts. Equity markets appear positioned to capitalize on looser financial conditions, particularly growth-sensitive sectors.