Global Stock Markets Experience Gold Rush as US Employment Figures Spark Interest Rate Cut Speculation
The recent US employment figures sparked a gold rush scenario in the stock market, with the economy growing without an increase in inflation. The New York stock market experienced a significant rise on Friday following the release of fresh macro data, with the S&P 500 index closing up 1.3 percent and reaching 5,128 points. This was described as the best increase since February by CNBC.
The Dow Jones index also rose by 1.2 percent, while the Nasdaq, which focuses on technology, increased by two percent. Stock prices on Wall Street surged as weaker-than-expected US labor market numbers led investors to anticipate interest rate cuts by the US Federal Reserve. Inflationary pressures were alleviated as a result of this news, paving the way for potential interest rate cuts later in the year.
The Helsinki Stock Exchange also closed higher on Friday, reflecting global market trends. Tech companies like Apple contributed to this positive stock market performance, with Apple’s stock rising six percent following announcements of a share buyback program and strong interim results. Other technology companies such as Nvidia, Microsoft, Alphabet, and Amazon also saw increases in their stock prices.
Overall, investor confidence and optimism in the future economic outlook were evident in the market response to both labor market data and other macroeconomic information from around the world.
