Wall Street Soars Despite Fed Rate Cut Delays: NVIDIA's Epic Climb!

The labor market's iron grip is pushing back Fed rate cuts, but Wall Street? It's riding a wave of pure economic optimism, baby!

Sure, those Fed rate cuts might be playing hard to get, but Wall Street ain't sweating it. June 3rd, the Dow Jones shot up 344 points, a sweet 0.77% boost, while the S&P 500 strutted with a 0.83% gain in a short session before Friday's close. The tech-heavy Nasdaq? Up 1.02%! Both the S&P 500 and Nasdaq smashed through the roof, hitting record highs as investors just couldn't stop the optimism train.

NVIDIA? Oh, it was on fire, skyrocketing 1.3% and hitting its all-time peak. This beast is inches away from dethroning Apple as the world's most valuable company. After a killer Q1 earnings report, NVIDIA laughed in the face of those U.S. sanctions on China, showing everyone who's boss.

Strong Labor Market: The Economy's Unsung Hero

Everyone's got their eyes glued to the June jobs report, and guess what? The labor market's tougher than a two-dollar steak. We saw a whopping 147,000 jump in non-farm payrolls, blowing past the expected 106,000. And the unemployment rate? It dropped to 4.1% when everyone thought it'd climb to 4.3%!

That ironclad labor market is shrugging off any tariff-related damage like it's nothing. Despite the U.S. throwing its weight around with those punitive tariffs, businesses are standing firm, dodging layoffs left and right, hoping the tariffs are just a temporary storm.

With jobs booming, the Fed's less likely to slash those interest rates, even if inflation takes a nap. Bad news for growth stocks that love low rates, but hey, a robust economy and killer growth? That's enough to keep Wall Street's spirits sky-high.