Wall Street Rises as S&P 500 Hits Record High Following Strong Jobs Report

U.S. stocks rose Thursday (July 3, 2025) on Wall Street, with the S&P 500 and Nasdaq hitting new record highs after a stronger-than-expected jobs report fueled optimism that the U.S. economy remains resilient despite rapid shifts in trade policy. Specifically, the Dow Jones Industrial Average gained 344.11 points, or 0.77%, closing at 44,828.53. The S&P 500 climbed 0.83% to close at 6,279.35, while the Nasdaq Composite added 1.02% to finish at 20,601.10. Both the S&P 500 and Nasdaq closed at record levels. Nonfarm payrolls increased by 147,000 in June, according to the ADP report. That figure exceeded economists’ expectations of 110,000 and was revised upward from May’s previously reported 144,000. The unemployment rate also dropped to 4.1%, below analysts’ forecasts of 4.3%. The strong employment data also pushed Treasury yields higher and reduced expectations for an imminent interest rate cut from the U.S. Federal Reserve (Fed). Traders in Fed funds futures currently estimate about a 95% chance the central bank will keep rates unchanged at its meeting later this month, according to the CME Group’s FedWatch tool.