FX.co ★ S&P 500, Dow Rise to Record Highs

US stocks experienced an uptick on Friday, driven by the December jobs report results that reinforced the prediction of several interest rate cuts by the Federal Reserve this year. All three major indices saw a 0.5% increase, with the S&P 500 and the Dow Jones Industrial Average nearing record levels. The US economy added fewer jobs than anticipated, but the unemployment rate dropped significantly, highlighting the current low-hiring and low-firing job market consistent with the outlook for reduced interest rates. Technology stocks presented mixed performances following a volatile week, with Alphabet and Nvidia seeing gains. Meta also rose in value after it secured nuclear power deals for its data centers, the latest in its series of strategic investments in AI, which have brought increased scrutiny to the sector. Additionally, Chevron and leading refiners like Valero extended their rally this week as the market continued to evaluate the effects of uncertain Venezuelan oil imports. This comes amidst contrasting signals from President Trump indicating increased trade, while companies remain cautious about operating in Venezuela.