The S&P 500 Index ($SPX) (SPY) Friday closed up +0.54%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +0.17%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +1.02%.
Stock indexes Friday settled moderately higher, with the S&P 500 and Nasdaq 100 posting new record highs. Stocks found support Friday after the US June payroll report bolstered the outlook for the Fed to cut interest rates this year. Jun nonfarm payrolls rose more than expected by +16,000, but May payrolls were revised lower by -54,000. T-note yields tumbled after the US Jun unemployment rate unexpectedly rose to a 2-1/2 year high, and Jun average hourly earnings posted their slowest annual pace of increase in 3 years.
