Dow Jones rockets toward 45,000 as jobs data fuels market frenzy
Wall Street's bull run just got a turbocharge. The Dow Jones Industrial Average is gunning for the 45,000 mark after today's jobs report smashed expectations—proving once again that traditional markets still move at the speed of government spreadsheets.
Meanwhile in crypto-land, Bitcoin miners are processing transactions at lightspeed while these legacy indices play catch-up. The irony? Both markets are betting on the same thing: that freshly printed dollars will keep flowing. Only one isn't waiting 45 days for payroll data to confirm the trend.
Here's what's fueling the fire...
Labor markets on steroids: The numbers don't lie—unless you count seasonal adjustments. Employers are hiring like it's 1999, giving the Fed yet another excuse to drag its feet on rate cuts.
Institutional FOMO hits critical mass: When the Dow starts eyeing round numbers, hedge funds pile in like it's a meme stock rally. This time they've got algorithms doing the buying—and the rest of us get to watch the gamma squeeze.
Technical breakout or trap? Chartists see clear skies ahead after the index shattered resistance levels. But anyone who lived through 2008 knows these trains don't stop smoothly.
The real question: How long before crypto traders start shorting the DOW as a hedge against their Bitcoin holdings? Now that would be a plot twist worthy of 2025.
U.S. added 147,000 jobs in June
The Bureau of Labor Statistics reported that non-farm payrolls ROSE by 147,000 in June, beating economists’ expectations of 106,000. According to the report, job gains were strongest in state government and healthcare, while the federal government continued to shed positions.
The unemployment rate also surprised to the upside, falling to 4.1% versus forecasts of a rise to 4.3%.
In May, the U.S. economy had added 144,000 jobs, an upward revision from the previously reported 139,000. At the time, the unemployment rate held steady at 4.2%.
Nonfarm payrolls report on July 3, 2025 comes just a day after ADP’s latest data that showed private payrolls recorded a 33,000 decline in June.
Bets on rate cut falls
Amid the payrolls report, bullish bets on odds of a Federal Reserve rate cut in July have dropped, with the CME FedWatch Tool now showing markets are pricing in a 5% chance. On Wednesday, bets for a rate cut by the central bank in July stood at 24%.
While the jobs report has catalyzed an upward reaction across equities, investors remain cautious amid focus on President Donald Trump’s tax bill. The U.S. Senate passed the mega budget bill on July 1, with that now facing a final vote following its earlier adoption by the Republican-controlled House.
The first week of July will be a shortened one for U.S. markets as July 4 marks Independence Day. Ahead of the full stock market closure on Friday, the New York Stock Exchange and the Nasdaq will close early – at 1 p.m. ET. on Thursday.
