This is double the annual wage for all other occupations. The median salary for technology occupations as per the U.S. IT careers are among the highest-paying ones in today’s workplace economy. With the growing demand for talent, the average annual salary for technology (tech) jobs increased by 6.9% between 20, exceeding $100,000 annually. The S&P 500 posted 58 new 52-week highs and no new lows the Nasdaq Composite recorded 79 new highs and 45 new lows.If you have always dreamt of building a successful career in technology, then this is a great time to hone your skills and kickstart your journey. read moreĪdvancing issues outnumbered declining ones on the NYSE by a 1.13-to-1 ratio on Nasdaq, a 1.48-to-1 ratio favored decliners. read moreĭidi Global Inc (DIDI.N) fell 5.3% after China's cyberspace administration said it would conduct a new investigation into the Chinese ride-hailing giant to protect national security and the public interest. Virgin Galactic Holdings (SPCE.N) rose 4.1% after the space tourism firm said billionaire entrepreneur Richard Branson would travel to the edge of space on the company's test flight on July 11, beating out fellow aspiring billionaire astronaut Jeff Bezos. CEO Elon Musk has warned of challenges securing chips and raw materials. Tesla Inc (TSLA.O) rose 0.15% after it posted record vehicle deliveries for the second quarter that also beat Wall Street estimates. Investors will look to minutes from the Fed's June meeting next week for the latest view on inflation, bond tapering and rates at a time when the easy monetary stance appears to be at an inflection point amid a booming U.S. economy, namely retail, leisure and hospitality, showed some of the strongest improvements," Northey said.įocus now shifts towards the second-quarter earnings season and progress on President Joe Biden's infrastructure bill that could help the equity market keep the momentum. "Some of the most impaired corners of the U.S. The report served as evidence of the economy's ongoing recovery, said Bill Northey, senior investment director at U.S. "But for now, the recovery in the labor market is not so robust as to bring forward any further the Fed's eventual tightening," Joy said. Headwinds that have weighed on hiring, including jobless benefits and vaccine concerns, are likely to diminish in the fall and might help jobs growth accelerate, said David Joy, chief market strategist at Ameriprise Financial.Ī security camera is seen next to signage outside of the New York Stock Exchange (NYSE) in New York City, New York, U.S., June 28, 2021. exchanges was 7.95 billion shares, compared with the 10.81 billion average for a full session over the last 20 trading days. markets shut on Monday in observance of Independence Day. Trading was light heading into the long weekend, with U.S. Financial stocks, which earn less on lower rates, fell as did utilities. Microsoft Corp (MSFT.O) added the most to the S&P's broad advance, followed by Apple Inc (AAPL.O), Inc (AMZN.O) and Google parent Alphabet Inc (GOOGL.O). Investors have feared a stronger-than-expected recovery and the prospect of surging inflation that could force the Fed to pare its support and raise rates, hurting technology shares whose growth and cash flow is farther in the future. "There were enough jobs that you'd want to see, but not so much that it concerns people that the Fed may have to act sooner." "For capital markets, equities and bonds, this was a goldilocks report," said Darrell Cronk, chief investment officer at Wells Fargo Wealth & Investment Management. economy was starting to ease but was not enough to force the Fed to raise rates.īig tech led stocks on Wall Street higher while the yield on the benchmark 10-year U.S. The better-than-expected data was a tentative sign that a labor shortage overhanging the U.S. The Labor Department's employment report showed nonfarm payrolls increased by 850,000 jobs last month, but the total is 6.8 million below its peak in February 2020. The streak was the longest run of consecutive record closes since June 1997, according to S&P Dow Jones Indices. indices - the S&P, Dow and Nasdaq - closed at record highs. NEW YORK, July 2 (Reuters) - Wall Street scaled new highs on Friday, with the S&P closing up for a seventh straight day, after jobs data for June showed robust hiring yet persistent weakness in the labor market that will keep the Federal Reserve from raising interest rates any time soon.
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