Ether gains 0.55% as strong US jobs data lifts S&P 500, Nasdaq to records
The post Ether gains 0.55% as strong US jobs data lifts S&P 500, Nasdaq to records appeared on BitcoinEthereumNews.com.
Ether (ETH) traded steadily around $2,584 (+0.55%) as risk assets rallied on strong US jobs data. US economy added 147,000 jobs in June (beating 110K forecast); S&P 500 and Nasdaq hit new record highs. US Congress passed President Trump’s $4.5 trillion ‘Big Beautiful Bill’ of tax cuts and spending reductions. Ether (ETH) held firm above the $2,580 mark on July 3, as broader risk assets rallied in response to a surprisingly robust US labor market report. The strong jobs data sent major US stock indices, including the S&P 500 and Nasdaq Composite, surging to new all-time highs. This positive market sentiment was further influenced by the US Congress passing President Donald Trump’s sweeping tax and spending package. The latest nonfarm payrolls report, published by the Bureau of Labor Statistics, revealed that the US economy added 147,000 jobs in June. This figure comfortably surpassed economists’ expectations of 110,000 and also exceeded the upwardly revised figure of 144,000 from May, according to a report from CNBC. Adding to the picture of a resilient labor market, the unemployment rate fell to 4.1%, defying forecasts that had predicted a rise to 4.3%. This strong economic data immediately boosted US equities, with the S&P 500 closing at 6,279.35 and the Nasdaq Composite finishing at 20,601.10 – both indices gaining more than 0.8% on the day to reach fresh record highs. The Dow Jones Industrial Average also saw a significant gain, adding 344 points to settle at 44,828.53. The positive risk-on sentiment appeared to provide a supportive backdrop for cryptocurrencies. Ether was trading around $2,584.90, registering a 0.55% gain over the past 24 hours, according to CoinDesk Research’s technical analysis model. The broader crypto market, as measured by the CoinDesk 20 Index (CD20), was up a slight 0.08% during the same period. Ether’s resilience suggests that,…
Filed under: News - @ July 4, 2025 3:25 am