From Nasdaq:

The S&P 500 and Nasdaq markets in the U.S. rose amid expectations of increased interest-rate cuts this year. Big tech and financial stocks were largely responsible for these gains, thanks to a rally from Amazon, Bank of America, and Microsoft. However, the U.S. service sector slowed in December, causing rates to adjust.

As a result of a greater than expected increase in U.S. jobs in December, the Federal Reserve scale back expectations of a rate cut in March. Economists initially predicted a March cut, but, after the Thursday Investors should expect a 71% chance of a cut in March. 0.43% rise on the Nasdaq composite .IXIC helped to improve the numbers for the U.S. Indexes.

Meanwhile, Peloton stocks rose a substantial 11.1% after rumors of its partnership with TikTok were confirmed. Xbox shares declined 2.1% after data analytics firm Jefferies lowered the company’s stock estimate. Lastly, Applied Therapeutics experienced a sharp 36.8% drop after a failed trial. However, at 11:53 a.m. ET, both the Dow and S&P 500 were still up while Nasdaq was up 0.43%.



Read more: US STOCKS-S&P 500, Nasdaq climb as fresh data boosts rate-cut bets again