Nasdaq, S&P 500 hit record highs on payrolls data


The Dow rose 67.87 points, or 0.17%, to close at 39,375.87. The S&P 500 gained 30.17 points, or 0.54%, at 5,567.19 and the Nasdaq advanced 164.46 points, or 0.90%, to 18,352.76.

NEW YORK: Wall Street stock indexes closed firmer on Friday, with the tech-heavy Nasdaq and benchmark S&P 500 hitting record highs, as new data showing US labour market weakness boosted expectations for interest rate cuts as early as September.

The rally was fuelled by megacap stocks such as Microsoft which rose nearly 1.5% to end at a record high.

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