US equity markets rallied on Friday, with the S&P 500 climbing toward record territory as investors digested a softer-than-expected jobs report.
The labor data significantly tempered expectations for an immediate interest rate hike by the Federal Reserve, shifting the focus to the potential for policy stability or easing in the near term.
The Nasdaq Composite added 1% by mid-afternoon in New York, buoyed by a standout performance from Atlassian, which surged 35% and helped revive sentiment across the software sector.
The broad-based recovery erased losses from the previous session, driven by a renewed appetite for riskier assets.
The Nasdaq Composite added 1% by mid-afternoon in New York, buoyed by a standout performance from Atlassian, which surged 35% and helped revive sentiment across the software sector.
Bond yields fell in tandem with the equity rally, reflecting the market's reassessment of the Federal Reserve's policy path.
The shift in rate expectations marks a pivotal moment for market positioning.