S&P 500 Index hits new record high above 4,300
- Wall Street’s main indexes opened higher on Friday.
- Upbeat Nonfarm Payrolls report seems to be boosting risk sentiment.
- Technology stocks push higher after the opening bell.
Major equity indexes in the US started the last day of the week on a firm footing with the upbeat June jobs report providing a boost to risk sentiment. As of writing, the S&P 500 was trading at a new all-time high of 4,330, rising 0.23% on the day, the Dow Jones Industrial Average was gaining 0.15% at 34,685 and the Nasdaq Composite was up 0.55% at 14,640.
The US Bureau of Labor Statistics reported on Friday that Nonfarm Payrolls rose by 850,00 in June, beating the market consensus of 700,000 by a wide margin. Further details of the publication showed that the Unemployment Rate edged higher to 5.9% and the Labor Force Participation Rate remained steady at 61.6%.
Among the 11 major S&P 500 sectors, the risk-sensitive Technology Index is up 0.7% after the opening bell. On the other hand, the Energy Index is losing 0.8% as investors await OPEC+ to announce its output strategy.
S&P 500 chart (daily)