Stock market recap: Nasdaq and S&P 500 eye records as tech rallies, jobs report looms
U.S. equities extended gains Friday, with investors positioning for a pivotal labor report as bond markets steadied and tech strength persisted.
The S&P 500 rose to 6,502.08 (+0.83%) and the Nasdaq 100 to 21,707.69 (+0.98%), while the Dow Jones Industrial Average climbed to 45,621.29 (+0.77%).
Sentiment was buoyed by upbeat chip-sector signals and company results (including Broadcom) alongside cooler bond yields, even as markets brace for a fourth straight month of sub-100,000 U.S. payroll gains and a higher jobless rate.
Global indexes
- S&P 500: 6,502.08, +0.83%
- NASDAQ Composite: 21,707.694, +0.98%
- DJIA: 45,621.29, +0.77%
- FTSE: 9,235.69, +0.20%
- NIKKEI: 43,018.75, +1.03%
- HSI: 25,417.98, +1.43%
- SHANGHAI: 3,812.514, +1.24%
U.S. markets
Wall Street’s Thursday session closed with broad gains—S&P 500 +0.8% to a record, Nasdaq +1.0%, Dow +0.8%—after a weaker-than-expected ADP print kept hopes alive for easier financial conditions.
Investors are watching whether August nonfarm payrolls (consensus ~75,000) and a tick up in the unemployment rate to 4.3% reinforce expectations for policy support. With bond yields steadier, growth shares outperformed, led by semiconductors and mega-cap platforms that remain sensitive to rate expectations and earnings durability.
European markets
Europe edged higher in cautious trade as investors awaited the U.S. payrolls release and monitored French political risk ahead of Monday’s confidence vote. The region also digested Germany’s third consecutive monthly drop in factory orders, underscoring uneven industrial momentum. Still, with yields calmer and risk appetite improving, the Stoxx 600 ticked up, and the FTSE 100 gained 0.20%.
Asian markets
Asia-Pacific stocks broadly advanced. Japan’s Nikkei gained 1.03% to 43,018.75 and Topix rose 0.82%, helped by July household spending up 1.4% y/y and a supportive chip complex.
Sector sentiment improved after U.S. President Donald Trump formalized a cut in Japanese auto import tariffs to 15% from 27.5% and confirmed $550 billion in prospective Japanese investments in U.S. projects. Chip names rallied: Advantest +2.14%, Lasertec +4%+, TSMC +1.72%, SK Hynix +3.01%. Elsewhere, Australia’s ASX 200 +0.51%, Hong Kong’s Hang Seng +1.43%, and China’s CSI 300 +2% signaled improving breadth as rate worries eased.
Summary conclusions
Trend: Equities are broadly higher, with the S&P 500 and Nasdaq 100 pressing toward fresh records amid steady yields and tech leadership.
Macro drivers: Softer labor indicators and a calmer bond backdrop are supporting multiples, while trade and tariff headlines shape regional flows (notably in autos and chips).
What’s next: The U.S. payrolls print will determine whether the rally broadens beyond tech, confirm the path for policy easing, and test the durability of record-level valuations into September.
In an earlier report, we noted that Nvidia stock consolidates at $171 as Quantinuum deal deepens quantum ambitions.
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