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US stocks rose on Wednesday due to the slowing of job gains in May, as private employers added 152,000 jobs last month, less than expected. This data suggests that the US labor market is cooling, boosting investor hopes that the Fed could cut interest rates later this year.
Nvidia (NVDA) shares reached a new record, rising more than 4% and bringing its market capitalization to nearly $3 trillion, a threshold only surpassed by Microsoft and Apple. CrowdStrike (CRWD) jumped after the cybersecurity software maker exceeded analysts’ expectations and lifted its full-year guidance as customers embraced its unified Falcon platform.
Dollar Tree fell after it announced it would explore selling or spinning off its Family Dollar brand, with the discount chain also releasing first-quarter earnings that missed expectations.
US stocks closed higher on Tuesday on the back of the jobs opening data, which suggested the labor market continued to cool in April.
TSMC and ASML Holding (ASML) shares jumped during intraday trading on Wednesday, with ASML’s lithography technology used to mass-produce semiconductor chips.
The advanced machines cost 350 million euros ($380 million) each and weigh as much as two Airbus A320s. ASML shares were up 9.1% to $1,037, while TSMC gained 6.5% to $162. ASML and TSMC are up about 37% and 56% year-to-date, respectively.
