US stocks extended their gains following the employment data. After the open, expectations that the next FOMC meeting would leave policy unchanged supported the market, with the Dow and Nasdaq trading near their highs.
US stocks extended their gains, with the Dow ending about $250 higher and the Nasdaq about 320 points higher than the previous day. The closing prices were 51176.96 for the Dow, 27190.86 for the Nasdaq and 7722.72 for the S&P 500.
As the employment data suggested a slowdown in employment, the market focused on the prospect of no change in policy at the next FOMC meeting. In addition, the decision to release emergency stockpiles of crude oil and diesel fuel eased concerns about further price increases, and broad-based buying continued.
Among individual stocks, electric vehicle-related Tesla rose on favorable sentiment that outweighed the decline in global sales. Semiconductor-related Onsemi and SYNA-related stocks also saw active trading. Travel-related ANAB and sporting-goods company Nike showed positive factors, while comments emerged that Nike's outlook should be viewed cautiously because of weak performance in China.
Dallas Fed President Logan's indication that she supports another 50 basis points of rate hikes also drew market attention. In overseas markets, broad trends across major markets were reported, and developments in diplomatic and energy policy are expected to continue influencing prices.