Live Nasdaq Composite: Markets Target New Highs on Economic Hopes

The Nasdaq Composite clinched yet another all-time high today, fueled by the strong labor market data and closing up approximately 1% to 20,601.10 in this holiday-shortened trading session. Not to be outdone, the S&P 500 also set a new record high, closing at 6,279.36, up 0.83%. The third quarter of 2025 is off to a running start, with Nvidia (Nasdaq: NVDA | NVDA Price Prediction) also soaring to new heights, closing up 1.3% for a market cap of close to $3.9 trillion as it continues to inch closer to the $4 trillion threshold.

Bank of America analysts have reaffirmed their “buy” rating on Apple (Nasdaq: AAPL) stock, pointing to the App Store results as a positive catalyst. Earlier this week, Jefferies analysts lifted their outlook on Apple shares to “hold” from “underperform.” Apple stock is up 0.78% today but is down 14% year-to-date.

With today’s strong jobs data, indicating a healthy economy, Wall Street analysts are predicting what to expect when Fed policymakers convene next. Here’s a roundup of some of the commentary:

BMO’s Ian Lyngen remarked, “Overall, it was a strong set of data that implies the Fed will remain on hold later this month, leaving rate cut expectations focused on the September FOMC meeting.”

Mutual of America Capital Management CEO Joe Gaffoglio wrote, “The June jobs report continues to demonstrate resilience across the labor market, even as certain sectors such as manufacturing continue to lag. The unemployment rate is holding steady at 4.1%, and real average hourly earnings for employees experienced its largest increase of the year.”

Goldman Sachs’ Head of Fixed Income Macro Strategies Simon Dangoor commented:  “Today’s stronger jobs report confirms a still resilient U.S. labor market, defying, at least for now, the signs of weakness seen in some leading indicators. The FOMC’s conviction that it should hold its wait-and-see stance while it braces for an acceleration in inflation over the summer will only be strengthened. But we still see a path to a resumption of the Fed’s easing cycle later in the year should the summer acceleration in inflation prove more modest than expected.”