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Tech Rally Lifts Nasdaq to Record High Amid Fed Rate Cut Speculation
Tech Rally Lifts Nasdaq to Record High Amid Fed Rate Cut Speculation
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BTCCSquare news:
The Nasdaq Composite surged to an all-time closing high of 22,141.10, fueled by a 2% weekly gain driven largely by Tesla and big tech. While the S&P 500 held steady with a 1.6% weekly advance, the Dow Jones slipped from record territory but still snapped a two-week losing streak.
Market Optimism stems from cooling labor data and contained inflation, with traders now pricing in a September Fed rate cut. Thursday's jobless claims hit a three-year high, while downward revisions to employment figures signaled cracks in the labor market - precisely the conditions the Fed needs to justify policy easing.
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