Why US stocks are rising: Nasdaq hits record after weaker jobs data cools rate-hike bets; Nike shares drop on forecast

US stocks are rising, with the Nasdaq Composite hitting a record high. This is due in part to weaker-than-expected jobs data, which has cooled bets on future interest rate hikes. Lower Treasury yields and declining oil prices have also contributed to the positive market sentiment, leading to gains in semiconductor stocks, such as Nvidia. Meanwhile, Nike's shares have fallen due to forecasts of a significant revenue decline, particularly in China.

Why it matters

Weaker jobs data reduces the likelihood of a rate hike, which is positive for stocks. Lower Treasury yields and declining oil prices also contribute to the rally.

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