The Nasdaq Composite rose 1.3% Friday following softer-than-expected U.S. jobs data, easing rate hike concerns.
The Nasdaq Composite Index climbed 1.3% to close higher on Friday, aligning with broader market gains after a weaker-than-expected U.S. payrolls report. The data fueled optimism that the Federal Reserve may slow interest rate hikes, reducing pressure on equities.
Earlier in the week, the index surged on remarks from Treasury Secretary Scott Bessent suggesting potential U.S.-Iran diplomatic progress. Markets have also been supported by strong corporate earnings, with Palantir leading tech gains after a blockbuster Q2 report.
The rally reflects investor relief over cooling labor market conditions, which could ease inflationary pressures without triggering a sharp economic downturn.