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Nasdaq ⁣Hits New⁤ High as Rate Cut Hopes Surge

NYSE

The Nasdaq Composite ⁣ notched a new high on Friday as investors reacted positively to signs of a cooling labor market and moderating inflation, increasing ⁣expectations that the Federal Reserve⁢ will begin lowering interest rates at its⁣ next meeting.

Market Performance: ⁣A Detailed Look

The tech-heavy Nasdaq rose 0.5%, driven largely by a significant surge in Tesla shares. ⁢ the broader market S&P 500 ticked up 0.1%, while the blue-chip Dow Jones Industrial Average saw a more‍ modest gain/decline ⁤of ⁢ [DATA NEEDED – Dow Performance].