Equity Alert
US mkt surges; weak econ data reignites Sept rate cut hopes
This story was originally published at 07:48 IST on 5 August 2025
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Equity Alert: US mkt surges; weak econ data reignites Sept rate cut hopes
MUMBAI--0727 IST--US indices surged Monday as investors looked for bargains after a sharp sell-off Friday. All three indices posted their biggest daily gain since May 27 as hope of a rate-cut in September were boosted amid weak economic data. The S&P 500 snapped a four-session losing run in the process and the Dow Jones Industrial Average ended a five-session losing streak. Both the indices ended over 1% higher. The Nasdaq Composite closed nearly 2% higher.
Shares of Tesla rose 2?ter the electric vehicle maker granted Chief Executive Officer Elon Musk 96 million shares worth about $29 billion in a new pay deal to keep him at the helm, Reuters reported. "Today is just a little bit of dip-buying...it does show a pretty healthy sign of folks out there looking for an opportunity to get in," Reuters reported Mike Dickson, head of research and quantitative strategies at Horizon Investments, as saying. Joby Aviation soared 19?ter the company said it will acquire helicopter ride-share company Blade Air Mobility's passenger business for up to $125 million. Blade Air shares rose 17.2%.
On the trade front, US President Donald Trump Monday said he will substantially raise tariffs on goods from India over its Russian oil purchases. Investors also still digested US President Donald Trump's firing of Bureau of Labor Statistics Commissioner Erika McEntarfer Friday after he accused her of faking the weak jobs numbers.
Post the weak jobs data Friday, which had triggered a sharp selloff in equities across the world, the CME Fedwatch tool now shows an over 90% probability of a 25-basis-point rate cut in the US Federal Reserve's September meeting, compared with a 64% probability a week ago and an 80% probability on Aug. 1.
Following are the closing levels of US indices Monday:
| INDEX | LAST LEVEL | CHANGE IN % |
| Dow Jones Industrial Average | 44173.64 | 1.34 |
| NASDAQ Composite | 21053.582 | 1.95 |
| S&P 500 | 6329.94 | 1.47 |
(Akash Mandal)
End
Edited by Akul Nishant Akhoury
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