Wall Street's major stock indexes started Friday's session higher after softer-than-expected labor data revived hopes of the Fed cutting interest rates in 2024. Reuters writes about this.
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The S&P 500 index rose by 1.23% at the opening of trading, Nasdaq – by 1.90% and the Dow Jones by 1.42%. Bitcoin also responded with growth, returning to $61 thousand.
The growth is observed against the backdrop of information about an increase in unemployment in the United States to 3.9% from 3.8%.
“Job growth has slowed down more than expected in April, and annual wage growth fell below 4.0% for the first time in almost three years,” the publication writes.
Financial markets have raised the possibility of a rate cut in September and are now hopeful that this will happen twice before the end of the year.
