U.S. stocks hit record highs after strong job growth report, creating a positive market reaction.

U.S. stocks hit record highs after strong job growth report for June, with employers adding 147,000 jobs, lower unemployment rate of 4.1%, and 0.2% increase in average hourly earnings. Market reacts positively to “Goldilocks” scenario of strong labor market without inflation fears, pushing ETFs like VOO and QQQ to record highs.

While the strong jobs report makes a Fed rate cut less likely, stock investors welcome solid growth and falling inflation. Bond prices fall as Treasury yields rise, with TLT down 0.6% and IEF dropping 0.4%. Fed funds futures suggest next rate cut could come in September.

Read more at Yahoo Finance: VOO Hits Record Highs as Jobs Data Land in Goldilocks Zone