Published on 4 May 2024 on Benzinga
Stocks Rally As Jobs Report Rekindles Rate Cut Hopes, Apple Rockets, Bitcoin Soars Above $61,000:...
A weaker-than-expected jobs report sparked a widespread market rally in the last session of the week, as traders increased expectations on potential interest rate cuts later this year.
In April, nonfarm payrolls expanded by 175,000 jobs, marking a significant slowdown from March’s robust pace of 315,000 and notably falling short of the anticipated 238,000.