WALL STREET CLIMBS ON RENEWED HOPES OF FED RATE CUTS
NEWS Desk Global

U.S. stock indexes continued their upward trajectory on Monday, building on last week's gains, as investors interpreted softer-than-expected payrolls data from Friday as increasing the likelihood of the Federal Reserve cutting interest rates this year.
The benchmark S&P 500 and the tech-heavy Nasdaq were both trading at levels not seen in three weeks. This positive momentum followed the release of data on Friday which indicated that U.S. job growth in April had slowed more than anticipated. This development eased pressure on the U.S. central bank to maintain higher interest rates for an extended period. Investors viewed the prospect of potential rate cuts favorably, contributing to the market's upward movement.
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