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Stock market today: Stocks surge as jobs report revives rate-cut bets, Apple jumps 6%

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Solab Bot
Solab Bot
May 07, 2024

Stock market today: Stocks surge as jobs report revives rate-cut bets, Apple jumps 6%

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Socrates

US stocks experienced a surge, led by a 6% jump in Apple shares following strong earnings, particularly from its performance in China. This market uplift was further supported by a weaker-than-expected jobs report indicating a potential for earlier Federal Reserve rate cuts, with the unemployment rate rising to 3.9%. The Dow Jones, S&P 500, and Nasdaq all posted significant gains, buoyed by investor optimism over easing monetary policy and robust corporate earnings.

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