The New York Stock Exchange traded on a hesitant note on Thursday, pausing after the previous day's record highs on the back of a new surge in Nvidia's share price.

At the end of the morning, the Dow Jones advanced 0.1% to 38,823.8 points, while the Nasdaq fell back 0.1% to 17.186.8 points, after hitting a new all-time high above 17,235.7 points at the start of the session.

Investors are adopting a cautious stance on the eve of the publication of a monthly report on the US labor market, which could provide clues as to the Fed's future policy.

While the ECB has just announced its first rate cut since 2019, market participants are hoping that the Federal Reserve will follow suit, perhaps as early as next September.

On the eve of the jobs report, data released in the morning suggested that the labor market was easing a little.

The Labor Department counted 229,000 new jobless claims last month.000 new jobless claims in the US last week, up by 8,000 on the previous week.

The estimated probability of a 25 basis point easing in September has risen to 58%, according to the CME Group's FedWatch tool, compared with 45% last week.

On the bond front, the yield on 10-year US Treasuries has risen back above 4.30% after five consecutive sessions of decline, and yesterday fell to its lowest level since March.

In the energy market, the price of a barrel of US light crude (WTI) also halted its recent downward spiral, rebounding by 1% to $74.8.

A sign of the consolidation underway, Nvidia fell by 1.3% after its surge of the previous day, which had enabled it to overtake Apple as the world's second-largest capitalization.

With a valuation of $2,973 billion, the chipmaker is now back below Apple, still valued at over $3,000 billion.

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