S&P 500 rises on strong US employment report

According to Reuters, the S&P 500 and Nasdaq 100 indices closed at record highs of 6,282.3 and 22,900.1 points, respectively, on Thursday. Analysts attribute the upward trend to investor optimism following positive US employment data and Nvidia's approach toward a $4 trillion market capitalization.

The S&P 500 gained 0.83%, and the Nasdaq 100 rose 1.02%, marking their third consecutive week of growth. The Dow Jones Industrial Average finished just 0.41% below its own record high, Reuters notes.

June's nonfarm payrolls saw an increase by 147,000 jobs, exceeding economists' projections of 110,000 by 33%. The national unemployment rate dropped to 4.1% over the past month.

Meanwhile, Nvidia shares climbed 1.3%, pushing the company's market capitalization to $3.89 trillion. This valuation brings the corporation closer to surpassing Apple and potentially becoming the most valuable company in history, the agency notes.