Stocks were solidly higher in midday trading Thursday, pushing major indexes to new highs, after the June jobs report showed that hiring was stronger than expected and the unemployment rate fell.
The benchmark S&P 500 index and the tech-heavy Nasdaq Composite were recently up 0.9% and 1.2%, respectively, trading at all-time highs, while the Dow Jones Industrial Average added 0.8%, inching closer to its first record since December. The S&P 500 and Nasdaq Composite have closed at record highs on three of the past four day. The major indexes entered the final trading day of the week—markets close early today and will be shut on Friday for the July 4 holiday—on track to post weekly gains.
Market sentiment has been boosted by hopes the Trump administration will reach trade agreements ahead of a July 9 deadline to re-impose hefty tariffs on leading trading partners. Investors have also become increasingly hopeful that the Fed will be in a position to cut interest rates soon.
Labor market data released this morning dampened expectations that the Fed will reduce rates anytime soon, but reaffirmed the resilience of the U.S. economy. The monthly report from the Labor Department showed that U.S. employers added 147,000 jobs in June, exceeding the 110,000 that economists had expected, while the unemployment rate dropped to 4.1% from 4.2% in May. The Fed, which has a dual mandate to promote maximum employment and to contain inflation, has said it needs more time to evaluate the impact of tariffs on the economy before adjusting rates.
Market participants are also monitoring developments related to trade talks, after President Donald Trump said yesterday that the U.S. had reached an agreement with Vietnam, where many U.S. companies have a large manufacturing presence. Investors are also keeping an eye on the House of Representatives, where legislators are getting set for a final vote on the GOP’s massive tax and spending bill.
Shares of the world’s largest technology companies, which have paced the recent rally, were higher across the board Thursday morning. Nvidia (NVDA), Microsoft (MSFT), Amazon (AMZN) and Broadcom (AVGO) each climbed more than 1%, while Apple (AAPL), Alphabet (GOOG), Meta Platforms (META) and Tesla (TSLA) posted smaller gains.
Datadog (DDOG) was the big gainer Thursday, with shares rising 15% after S&P Global announced that the software firm would be joining the S&P 500 index on July 9.
The yield on the 10-year Treasury note, which affects borrowing costs on a wide range of consumer and business loans, was at 4.33% recently, up from 4.26% before the jobs data. The U.S. dollar index, which measures the performance of the dollar against a basket of foreign currencies, rose 0.3% to 97.06, after hitting its lowest level since early 2022 on Wednesday.
Bitcoin was at $109,200 after climbing above $110,000 this morning for the first time since June 10. The digital currency isn’t far from its all-time high of around $112,000.
West Texas Intermediate futures, the U.S. crude oil benchmark, were down 1.2% at $66.65 per barrel in recent trading, while gold futures slipped 0.6% to $3,340 an ounce.
Chip Design Software Stocks Jump as U.S. Lifts Restrictions on Exports
37 minutes ago
The Trump administration has lifted export restrictions it imposed recently for chip design software sales in China, as Washington and Beijing move forward with a framework for a trade deal.
Synopsys (SNPS) and Germany’s Siemens AG said they had been informed by the U.S. Commerce Department’s Bureau of Industry and Security that the curbs imposed in May had been removed. Reports noted that a third semiconductor design software provider, Cadence Design Systems (CDNS), made a similar statement.
The news sent shares of the U.S. companies surging in early trading Thursday. Shares of both Cadence and Synopsys were both up about 5% in recent trading.
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Siemens said in a statement to Investopedia that it has “restored full access to software and technology” and resumed sales to China, while Synopsys said the export restrictions placed on it in May “have now been rescinded, effective immediately” and that it is “working to restore access to the recently restricted products in China.”
Cadence, according to Bloomberg and CNBC, is in the process of resuming its services in the country. Cadence and the Commerce Department didn’t immediately respond to Investopedia requests for comment.
Tripadvisor Shares Soar as Activist Takes 9% Stake
1 hr 7 min ago
Shares of Tripadvisor (TRIP) soared Thursday after activist investor Starboard Value took a 9% stake in the travel review provider.
In a regulatory filing, Starboard said it owned about 10.6 million shares of Tripadvisor, arguing that the stock was “undervalued and represented an attractive investment opportunity.”
Starboard added that it intends “to engage with the Issuer’s management and Board of Directors regarding opportunities for value creation.” Starboard noted that it might suggest a range of steps, including “making recommendations or proposals to the Issuer concerning changes to the capitalization, ownership structure, board structure (including board composition), potential business combinations or dispositions involving the Issuer or certain of its businesses, or suggestions for improving the Issuer’s financial and/or operational performance.”
Tripadvisor shares sank in 2020 when the COVID-19 pandemic caused a major slump in travel and tourism. They rallied back in 2021, but have steadily declined since as revenue from its namesake brand slid, while subsidiaries Viator and TheFork grew. The Wall Street Journal reported that the company turned down several takeover offers in the past year.
The stock was up more than 17% in recent trading, pushing its year-to-date gain to near 20%.
Market Expectations for July Rate Cut Fade
2 hr 14 min ago
The surprisingly strong June jobs report has led market participants to scale back their expectations for the Federal Reserve to cut interest rates this month.
Investor hopes that the Fed could be in a position to cut rates soon have contributed to the rally that has boosted stocks to record highs recently.
Earlier this morning, ahead of the release of the employment numbers, traders were pricing in a 25% chance that the central bank would cut its benchmark rate at its July 30th policy meeting, according to CME Group’s FedWatch tool. The likelihood fell to below 7% after the labor data.
For investors, the employment numbers are undoubtedly good news as they point to continued robust consumer spending and strong corporate results. At the same time, the ongoing strength of the economy could keep the Fed from lowering interest rates that are high by historical standards, especially if inflation remains above the Fed’s target.
Fed officials, for their part, have said that the central bank needs to see more data on how tariffs feed through the economy, especially how they affect inflation, before policy can be adjusted.
Centene Levels to Watch After 40% Drop on Wednesday
3 hr 24 min ago
Centene (CNC) shares plummeted 40% on Wednesday, hitting an 8-year low, after the managed care giant withdrew its full-year outlook after receiving new data about enrolments and rising member health costs.
The company, which focuses on Medicaid and Affordable Care Act insurance, said reports from the majority of its marketplaces revealed that growth slowed more than anticipated and patient illness was significantly higher than it had previously expected. As a result, it expects lower federal reimbursements and increased costs, which it says will impact 2025 results by about $1.8 billion, or $2.75 in adjusted earnings per share.
The stock has lost around two-thirds of its value since setting a record high in August 2022. Since the start of 2025, Centene shares have dropped 44% as the company and its industry peers grapple with rising medical costs and declining enrollments.
The stock was up 1% at around $34 in premarket trading Thursday.
Since setting their all-time high in August 2022, Centene shares have remained in a steady downtrend. Losses have accelerated in early July, which has seen the price plunge below the closely watched 200-month moving average and the relative strength index fall into oversold territory.
Importantly, the sharp move lower has occurred on above average-volume, indicating selling conviction from larger market participants.
Investors should watch major support levels on Centene’s chart around $27 and $17, while also monitoring resistance levels near $42 and $74.
Read the full technical analysis piece here.
Datadog Surges as Software Stock to Join S&P 500
3 hr 54 min ago
Shares of Datadog (DDOG) popped in premarket trading Thursday, a day after S&P Global announced that the software firm would be joining the S&P 500 on July 9.
A spot in the benchmark index opened up after Hewlett Packard Enterprise (HPE) on Wednesday completed its acquisition of fellow S&P 500 component Juniper Networks.
Inclusion in the S&P 500 can boost shares by introducing them to new investors or by getting put into various index funds that track the components.
Datadog shares were up 9% recently, on pace to move back into positive territory for the year. They have recovered much of the ground they lost starting in February, when lackluster forecasts sent them tumbling.
Robinhood (HOOD) shares were down nearly 3% in premarket trading after hitting an all-time high Wednesday on speculation the trading platform would be the one to replace Juniper Networks in the S&P 500. Cryptocurrency trading platform Coinbase Global (COIN) was added to the index in May following the merger of Capital One Financial (COF) and Discover Financial Services.
Major Index Futures Inch Higher Ahead of Jobs Report
4 hr 12 min ago
Futures tied to major U.S. indexes were up less than 0.1% as markets were in a holding pattern ahead of the release of the June employment report from the Labor Department.
Dow Jones Industrial Average futures
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Nasdaq 100 futures
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