The Dow Jones index closed up 1.34%, at 48,704.01 points; and the S&P 500 gained 0.21%, to 6,900.99 points. The Nasdaq lost 0.25%, to 23,593.86 points, dragged down by losses of 0.55% in the technology sector. Oracle fell 10.82%, alongside other names in the sector, such as Arm (-3.80%), Intel (-3.11%), Alphabet (-2.43%), and Nvidia (-1.53%).
Although the Fed has indicated the possibility of a pause in the easing cycle, market expectations for further cuts will depend on next week’s jobs data. The report became even more relevant after Powell said there was a “systemic overestimation” of the number of job gains and acknowledged the possibility of job losses.
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