U.S. stocks surged on Wednesday, with the S&P 500 breaking all-time highs after unexpected private payroll data fueled speculation about imminent Federal Reserve rate cuts. Here’s a breakdown of the key market movements:
Key Market Drivers
Private Payroll Contraction:
- The ADP report revealed private employers cut 33,000 jobs in June 2025—the first decline since March 2023.
- Economists now project Friday’s nonfarm payrolls to show 110,000 new jobs (down from 139,000).
Rate Cut Probabilities Spike:
Markets now price in:
- 25% chance of a July cut
- Full September cut expectation
- Additional December reduction fully priced
Wednesday’s Market Performance
Major Indices
| Index | Price | Change (%) |
|----------------|-------------|------------|
| S&P 500 | 6,222.44 | +0.4% |
| Nasdaq 100 | 22,650 | +0.8% |
| Dow Jones | 44,500.39 | Flat |
| Russell 2000 | 2,216.07 | +0.9% |
Data as of 1:00 p.m. ET
Sector & ETF Highlights
- Outperformer: Technology Select Sector SPDR (XLK) ↑0.9%
- Laggard: Health Care Select Sector SPDR (XLV) ↓0.8%
Notable ETFs:
- Vanguard S&P 500 ETF (VOO) ↑0.3%
- iShares Russell 2000 ETF (IWM) ↑0.9%
Top Stock Movers
- MicroStrategy (MSTR): ↑5% on $14B unrealized Bitcoin gains forecast.
- Adobe (ADBE): ↓4.1% after Rothschild downgrade to Sell.
Quantum Computing Stocks:
- Rigetti (RGTI) ↑8.7%, D-Wave (QBTS) ↑0.9%, IonQ (IONQ) ↑2.4%
- First Solar (FSLR): ↑8% on positive U.S.-Vietnam trade deal impact.
Commodities & Crypto
- Gold: ↑0.5%
- Bitcoin (BTC): ↑3.5% to $109,550
- Oil (WTI): ↑1.9%
👉 Explore real-time crypto trends
FAQs
Q: Why did the S&P 500 hit a record high?
A: Weak jobs data boosted Fed rate cut hopes, lifting equities.
Q: Which sectors outperformed?
A: Tech led gains, while healthcare lagged.
Q: How are rate cut expectations evolving?
A: Markets now fully price cuts by September, with a 25% July chance.
Trade Policy Update
- New U.S.-Vietnam deal imposes 20% tariffs on direct exports and 40% on transshipments, while granting U.S. firms market access.
👉 Stay updated on global trade shifts
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