Nasdaq Hits Record as Weak Jobs Data Lifts Rate-Cut Bets; Nike Slumps on Downbeat Outlook
US stocks advanced after softer-than-expected jobs data reinforced expectations that the Federal Reserve may have less room to keep rates elevated for longer. The Nasdaq Composite set a record high, supported by falling Treasury yields, lower oil prices and a renewed bid for semiconductor shares, while Nike fell sharply after warning of a steeper revenue decline tied to weakness in China.
