Equity Alert
US mkt at record high; payroll revision boosts rate cut hopes
This story was originally published at 07:58 IST on 10 September 2025
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Equity Alert: US mkt at record high; payroll revision boosts rate cut hopes
MUMBAI--0733 IST--Equity indices in the US closed at record highs Tuesday, with a downward revision of the payrolls data boosting hope of a rate cut by the US Federal Reserve this month. A surge in shares of UnitedHealth led to the Dow Jones Industrial Average being the biggest gainer among the three benchmark indices.
The US economy likely added 911,000 fewer jobs in the 12 months through March than previously estimated, Reuters reported the government as saying. This suggested that job growth was already stalling before President Donald Trump launched his global tariffs. This data increased the probability of a 25-basis-point rate cut at the Fed's September meeting to 93.7% from 89.4?ay ago, according to the CME Fedwatch tool.
UnitedHealth surged nearly 9?ter the health insurer said it expects enrolment in top-rated Medicare insurance plans to be in line with its expectations, which could mean bigger payments from the government to the health insurer, Reuters reported. JPMorgan Chase gained 2?ter a senior executive said its investment banking revenue will grow in low double digits in the third quarter and markets revenue would grow in high teens. "That's all good news, signs of a good, thriving economy...M&A (mergers and acquisitions) is coming back after Trump's Liberation Day put a screeching halt to that," Reuters quoted Jed Ellerbroek, portfolio manager at Argent Capital, as saying.
Nebius skyrocketed 50?ter the artificial intelligence infrastructure company bagged a $17.4-billion deal from Microsoft. S&P 500 futures rose slightly late Tuesday on a positive forecast from Oracle, CNBC reported. Oracle surged 26% in extended trading after the technology major said multicloud database revenue from Amazon, Google, and Microsoft soared 1,529% in the previous quarter due to demand for artificial intelligence servers. This encouraged investors despite latest quarter earnings falling short of expectations, the CNBC report said.
Following are the closing levels of US indices Tuesday:
|
INDEX |
LAST LEVEL |
CHANGE IN % |
|
Dow Jones Industrial Average |
45711.34 |
0.43 |
|
NASDAQ Composite |
21879.489 |
0.37 |
|
S&P 500 |
6512.61 |
0.27 |
(Akash Mandal)
End
US$1 = INR 88.10
Edited by Subhojit Sarkar
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