The S&P 500 and Nasdaq 100 indices closed at record highs on Friday, rising by 0.5% and 1% respectively, while the Dow Jones increased by 67 points. Market sentiment was bolstered by data indicating a slowdown in U.S. employment growth in June and an increase in the unemployment rate to its highest level since late 2021, which put downward pressure on Treasury yields and fueled speculation about a possible rate cut in September. Non-farm payrolls rose by 206,000 in June, and job growth in the previous two months was revised down by 111,000. Communication services stocks led the session, with Meta up 5.9% and Alphabet up 2.5%. Consumer staples also performed well, with Walmart up 2.6% and Costco up 2.7%. In contrast, energy stocks lagged, with Exxon down 1.3% and Chevron down 1.6%. For the week, the S&P 500 posted its fourth positive performance in the last five weeks, gaining 1.2%, the Nasdaq 100 rose by 2.4%, and the Dow Jones increased by 0.3%.

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