NEW YORK, Sept 4, 2025 — The S&P 500 closed at a record 6,502.08 on Thursday as fresh U.S. labor data left expectations for a Federal Reserve interest-rate cut largely intact, a day before the monthly U.S. jobs report.
Key Takeaways
- S&P 500 set a closing record, rising 0.83% (53.82 points) to 6,502.08.
- Investors price a roughly 95% chance of a 25 basis-point Fed cut, per CME FedWatch.
- Dow rose 350.06 points to 45,621.29; Nasdaq gained 209.97 points to 21,707.69.
- Broadcom, Amazon and Meta were among notable contributors; Salesforce fell after a weak revenue forecast.
- Labor signals showed rising initial jobless claims and slower private payroll growth in August.
- Market breadth favored advancers: NYSE advancers led decliners by 2.79-to-1.
Verified Facts
Major U.S. indexes advanced on Thursday. The S&P 500 finished at 6,502.08, up 53.82 points (0.83%). The Dow Jones Industrial Average climbed 350.06 points to 45,621.29, while the Nasdaq Composite gained 209.97 points to 21,707.69.
Traders reacted to labor-market data that showed a larger-than-expected increase in initial unemployment claims last week and a slowdown in private payroll growth for August. Those readings reinforced market bets that the Federal Reserve will cut rates, rather than keep policy tighter for longer.
| Index | Close | Change |
|---|---|---|
| S&P 500 | 6,502.08 | +53.82 (0.83%) |
| Dow Jones | 45,621.29 | +350.06 (0.77%) |
| Nasdaq | 21,707.69 | +209.97 (0.98%) |
On the corporate front, Broadcom rose about 1.2% ahead of its quarterly report and showed further gains in after-hours trading. Amazon shares finished up 4.3%, and Meta Platforms rose roughly 1.6%. Salesforce shares dropped about 4.9% after the company warned third-quarter revenue would come in below Wall Street estimates. Apparel retailer American Eagle Outfitters surged about 38% after forecasting stronger comparable-sales for the third quarter.
Trading activity on U.S. exchanges totaled approximately 14.68 billion shares, compared with a 20-day full-session average of 16.07 billion. On the NYSE, advancing issues outnumbered decliners by about 2.79-to-1, with 303 new highs and 61 new lows. On the Nasdaq, 2,741 stocks rose and 1,878 declined.
Context & Impact
Markets have been sensitive to labor-market signals this week because the September payrolls report, due Friday, could shift the trajectory for Fed policy. Softer hiring and higher claims increase the odds the Fed will ease monetary policy later this year, a view already reflected in price action.
AI-related names and large-cap tech continued to influence overall market direction. Recent turbulence — including last week’s setback for Nvidia amid Sino-U.S. trade uncertainty — has shown how geopolitical and trade considerations can quickly alter earnings and guidance assumptions for chipmakers and cloud providers.
- Fed policy implication: A confirmed slowdown in payrolls would strengthen calls for a 25 bps cut.
- Investor focus: Corporate earnings and next week’s economic calendar will guide near-term performance.
“Payrolls tomorrow probably won’t change the market’s view much unless results are far outside expectations,”
Mike Dickson, Horizon Investments
Unconfirmed
- Details of Broadcom’s after-hours revenue and profit guidance referenced in market moves were not fully disclosed in initial reports.
- Short-term market reactions could change materially if Friday’s payrolls data diverges sharply from forecasts.
Bottom Line
The S&P 500’s record close on Sept 4 reflected a market that has priced in easier Fed policy as labor-market indicators soften. Still, the imminent August jobs report remains a key potential inflection point; a surprise there could quickly alter rate-cut odds and asset prices.