Stocks are up on Friday and investors are seeking answers as to why the market is heading higher today.
There are a few factors affecting the stock market that explain why shares are rising today. First off, let’s talk about the Senate voting to approve a bill that increases the U.S. debt ceiling. This came as the deadline for delaying the U.S. debt crisis closed in, which could have been a major problem for markets.
In connection with the debt ceiling drama, there’s also potentially good news for the stock market coming later this month. Federal Reserve officials have been suggesting that the organization may skip increasing interest rates during its meeting this month.
The Fed has been increasing interest rates for over a year now as it tries to reign in ongoing inflation. There has been evidence that it plans to slow these rate increases recently and now there’s talk that the Fed could skip an increase in June due to the recent debt ceiling concerns. This is also likely helping stocks climb today.
Finally, investors can point to the latest jobs report as another positive catalyst pushing stocks up today. According to this report, the U.S. added 339,000 jobs during May while unemployment increased to 3.7%. These are both strong signs for the U.S. economy, which is lifting investors’ spirits in turn.
Stock Market Movement on Friday
- The Dow Jones is rising roughly 1.3% as of Friday morning.
- The S&P 500 is climbing close to 1% higher as of this writing.
- The Nasdaq is getting about a 0.5% boost this morning.
- The Small Cap 2000 is heading around 1.6% higher on Friday.
Investors looking for more of the most recent stock market news today will want to keep reading!
We’ve got all of the biggest stock market stories that traders need to know about on Friday! Some of the top among them are what’s happening with shares of Fisker (NYSE:FSR), The Trade Desk (NASDAQ:TTD) and U Power (NASDAQ:UCAR) stock today. All of that news is ready to read about at the links below!
More Stock Market News For Friday
- Dear FSR Stock Fans, Mark Your Calendars for June 19
- TTD Stock Price Prediction: Is The Trade Desk Really Worth $90?
- UCAR Stock Gains Another 59% on Agreement With Quantum Solutions
On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
