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Nasdaq Surges As July Jobs Miss Softens Rate Outlook; Gold And Cloudflare (NYSE: NET) Lead Gains
['David Prior']
Foreign Policy Journal
Wall Street’s technology-heavy Nasdaq Composite (INDEXNASDAQ: IXIC) pushed notably higher Friday after a weaker-than-expected July jobs report shifted investor expectations around interest rates.
While the Nasdaq climbed sharply, the Dow Jones Industrial Average lagged behind, edging up just 0.18% as investors rotated away from more traditional blue-chip names toward growth and rate-sensitive assets.
Cloudflare (NYSE: NET) was one of the most dramatic movers on the day, with shares soaring nearly 7% after the networking and cybersecurity company reported strong quarterly earnings results.
The July jobs report, which came in below analyst forecasts, was the dominant macro catalyst of the session, reshaping the near-term narrative around Federal Reserve policy decisions.
Gold’s 2.13% advance reflected a swift repricing of real yields and dollar strength expectations, with commodity-linked equities following bullion prices sharply upward throughout the session.