Dow Hits Record High After Weak Jobs Report; Nasdaq Falls on Chip Stock Slump

The Dow Jones Industrial Average surged nearly 600 points to a record close on Thursday, driven by a weaker-than-expected nonfarm payrolls report for June. The unexpected data signaled a cooling labor market, which investors interpreted as a potential reason for the Federal Reserve to pause or slow its interest rate hikes. In contrast, the Nasdaq composite slid, weighed down by a decline in chip stocks. The mixed market performance highlights ongoing uncertainty about the pace of economic growth and monetary policy.