FX.co ★ S&P 500 Extends Record After Strong NFP

U.S. stocks climbed on Thursday, buoyed by new data pointing to a strong labor market, which reinforced the perception of a sturdy economy. The major indices rose approximately 0.5%, with both the S&P 500 and Nasdaq achieving record highs. June saw non-farm payrolls increase by 147,000, significantly surpassing expectations of a 110,000 rise, while the unemployment rate unexpectedly fell to 4.1%. This data countered fears that tariffs and economic uncertainty were affecting employment, highlighting the resilience of the U.S. economy. Consequently, the House of Representatives made progress on passing Trump's tax and spending legislation, viewed as a boost to U.S. fiscal policy. Meanwhile, trade negotiations appeared stalled ahead of next week's deadline, especially after the confirmation of 20% tariffs on Vietnam. In other business news, shares of Cadence Design and Synopsys surged 5% following the White House's decision to lift restrictions on chip design exports to China. Additionally, Datadog's stock soared 10% after it was included in the S&P 500, replacing Juniper Networks.