Stock market recap: Nasdaq near record highs ahead of key jobs revisions

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Nasdaq near record highs

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Global indexes

- S&P 500: 6,495.15,+0.21%

- NASDAQ Composite: 21,798.699,+0.45%

- Dow Jones Industrial Average: 45,514.95, +0.25%

- FTSE: 9,231.44,+0.11%

- NIKKEI 225: 43,459.29, -0.42%

- HSI: 25,938.13,+1.19%

- SHANGHAI: 3,807.292,-0.51%

U.S. markets

The Nasdaq notched a fresh intraday high and pushed toward a new closing record, buoyed by heavyweight tech and an improving rate outlook after Friday’s weaker payrolls.

Intraday, the Nasdaq was up 0.8% while the S&P 500 gained 0.4%, with the Dow little changed before firming into the green. Momentum reflects growing confidence that disinflation is intact and that policy rates may soon ease, even as investors await a jobs data revision that could further clarify labor-market cooling. With valuations elevated, the market’s near-term path hinges on whether upcoming producer and consumer price reports confirm benign inflation without signaling a sharper growth slowdown.

European markets

European stocks began the week higher as investors focused on France’s confidence vote and fiscal trajectory. Retail shares led gains, while Germany’s DAX and France’s CAC 40 outpaced the U.K. benchmark.

The political backdrop—debate over tens of billions of euros in planned budget cuts and the prospect of cabinet changes—added headline risk but did little to dent broader sentiment, as traders prioritized the U.S. rate path and the knock-on implications for global liquidity.

Asian markets

Asia’s session split along policy lines. Hong Kong and China outperformed after a bruising spell last week, with the Hang Seng up 1.19% and the CSI 300 advancing over 2% earlier, as investors weighed prospects for targeted support and a friendlier external demand backdrop.

Japan lagged, with the Nikkei down 0.42%, as local political uncertainty and position-trimming offset optimism tied to a potential U.S. rate cut. Across the region, semiconductor names drew interest following trade commentary out of Washington and ongoing supply-chain realignment themes.

Summary conclusions

Trend: U.S. equities tilted higher, led by large-cap tech, as investors priced in a friendlier policy setting.

Macro drivers: A weaker jobs print, upcoming jobs revision and PPI/CPI data, and steadier bond yields shaped risk appetite.

What to watch: Whether inflation data corroborate a September cut—and if improving financial conditions can sustain record-level multiples without reigniting price pressures. A supportive outcome could keep the Nasdaq’s record march intact; a hawkish surprise or growth scare would likely spur consolidation.

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