US stocks hit all-time highs as labor data shakes up expectations
US stocks closed at record highs on Friday, with the S&P 500, Dow Jones, and Nasdaq all climbing after December's labor numbers came in mixed.
Why does this matter?
The job market update has investors rethinking when the Federal Reserve might cut interest rates.
With unemployment looking better, a rate cut this month seems less likely—but markets still expect at least two cuts this upcoming year.
That could potentially mean cheaper loans for homes and businesses down the line, based on economic expectations.
What's moving on Wall Street?
Nuclear energy companies like Vistra and Oklo jumped after landing deals with Meta.
Housing stocks also got a boost following Trump's $200 billion mortgage bond proposal to help lower home-loan rates.
Meanwhile, General Motors slipped after revealing a $6 billion charge tied to scaling back its electric vehicle plans.