Stock market today: Wall Street's scorching rally sets more records as hopes rise for rate cuts

U.S. stocks rose to more records after a report on the job market bolstered hopes that interest rates may soon get easier

Financial Markets — FILE - A person walks past at an electronic stock board showing financial indexes including Japan's Nikkei 225 index, green, at a securities firm in Tokyo, June 27, 2024. Asian shares were mostly lower on Friday, July 5, after solid gains in Europe overnight, while U.S. markets were closed for the July 4th holiday.

Japan Stocks Nikkei Record — A passerby walks past an electronic stock board showing Japan's Nikkei 225 index, right, at a securities firm Thursday, July 4, 2024 in Tokyo. Japan’s Nikkei 225 benchmark closed Thursday at a fresh record high of 40,913.65, pushing past its most recent record close set in March.

Financial Markets New York — The New York Stock Exchange is seen on Wednesday, July 3, 2024, in New York. Wall Street is leaning toward minuscule gains before the bell ahead of the Fourth of July holiday.

NEW YORK (AP) — U.S. stocks rose to more records after a report on the job market bolstered hopes that interest rates may soon get easier. The S&P 500 climbed 0.5% to set an all-time high for a third straight day and close its ninth winning week in the last 11. The Dow Jones Industrial rose 0.2%, and the Nasdaq composite added 0.9% to its own record. Treasury yields sank following the jobs data, which reinforced belief on Wall Street that the U.S. economy will stay in a not-too-hot but not-too-cold state and that the Federal Reserve will cut rates later this year.

THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.

U.S. stocks rose to more records after a report on the job market bolstered hopes that interest rates may soon get easier

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