U.S. Markets Stabilize Amid Unexpected Jobs Report and Fed Speculation

NEW YORK, NY — U.S. stock markets were little changed at midday Tuesday, following a surprising revision in employment data that raised speculation about potential interest rate cuts by the Federal Reserve. The adjustment indicated the labor market had been cooling more quickly than previously thought.

The Dow Jones Industrial Average rose by 0.3% to 45,640 points, while the S&P 500 climbed 0.2% near 6,500 points, remaining close to its all-time high. UnitedHealth Group, noted for its Medicare Advantage plans, led the way in gains, with shares soaring over 8% after the company projected that 78% of its members would enroll in top-rated plans next year.

Other notable movements included Nebius Group’s shares, which surged amid reports estimating their valuation at up to $19.4 billion. CoreWeave also saw gains, positioning itself as a significant player in the AI cloud computing sector. Conversely, Freeport-McMoRan shares dropped following news that rival Anglo American agreed to acquire Teck Resources for $53 billion, potentially forming one of the largest copper mining companies globally.

Trading was not universally positive; shares of News Corp and Fox dipped following the resolution of a protracted family dispute over control of the Murdoch family trust. Meanwhile, gold prices climbed by 0.3% to $3,650 per ounce, marking a significant upward trend, while oil futures also advanced.

As investors digested the employment data, Treasury yields increased, with the 30-year yield rising four basis points to 4.72%. In the cryptocurrency market, Bitcoin fell 1% to $111,000, reflecting mixed sentiments across major digital currencies.