From Nasdaq:

The S&P 500 and Nasdaq reach new record highs as job growth in the U.S. accelerates in February, with 275,000 new jobs created. Unemployment rate rises to 3.9% from 3.7%, while wage growth slows to 0.1%. Traders now predict an 81.1% chance of the Federal Reserve cutting interest rates in June.

Nvidia hits a record high, rising 3.0%, while Broadcom slips 2.9% after mediocre full-year forecasts. Shares of Marvell Technology fall 6.7% as first-quarter results are below market expectations. Gap climbs 4.4% after beating Wall Street expectations for fourth-quarter results. Costco Wholesale eases 5.5% due to falling quarterly sales.

Dow Jones up 0.02%, S&P 500 up 0.19%, and Nasdaq up 0.34% in morning trading. Consumer staples sector is the biggest loser among S&P 500 sectors. Fed Chair Jerome Powell hints at possible interest rate cuts once inflation falls sufficiently. Focus now shifts to next week’s CPI data for more guidance on potential rate cuts.



Read more at Nasdaq: US STOCKS-S&P 500, Nasdaq hit record highs as jobs data strengthens rate cut bets