Nasdaq Rockets Higher as Trade Deal & Jobs Data Supercharge Fed Rate Cut Bets

Wall Street's tech-heavy index catches fire—thanks to a one-two punch of bullish catalysts.

Trade winds shift, jobs report whispers 'soft landing'—and suddenly, everyone's pricing in dovish Fed magic.

Traders pile into risk assets like there's no tomorrow (though let's be real—they'll panic-sell at the first hint of CPI turbulence).

Weak jobs data fuel rate cut expectations

Progress on trade helps the U.S. avoid the inflationary effects of punitive tariffs, making the Fed’s rate cuts more likely. At the same time, weak employment figures from the payroll processing firm ADP contribute to this narrative.

Specifically, ADP figures revealed that the private sector lost 33,000 jobs in June, significantly missing the expected 100,000 increase. While layoffs were not common, reluctance to hire and replace existing workers has contributed to a drop in employment.

If a weak job market persists, the Fed may be forced to cut interest rates to boost the economy. This WOULD benefit growth stocks, including Tesla, which was among the top performers today. Tesla’s shares rose 4.62% after the company produced more cars than expected.

Despite that, the company underperformed on vehicle deliveries, which dropped 14% over a quarterly period. The EV Maker delivered 384,122 units, compared to Wall Street’s projected 389,407.