Markets Soar Amid Uplifting Job Report and Trade Relief

Stock indices S&P 500 and Nasdaq hit record highs, buoyed by a robust jobs report and eased trade tensions. Unemployment fell to 4.1%, defying forecasts. Nvidia's market cap soared, while US lifted export curbs on select software, hinting at easing trade tensions. US solar stocks surged alongside encouraging nonfarm payroll data.

The stock markets witnessed a surge as the S&P 500 and Nasdaq reached new record highs, supported by a strong jobs report, according to data released Thursday. Unemployment dropped to 4.1%, bettering expectations as Nvidia hit record valuations, approaching a $4 trillion market cap.

The U.S. economy displayed resilience as nonfarm payrolls recorded a significant increase, defying analysts' projections. This positive job data, coupled with eased trade curbs on chip design software exports to China, contributed to market growth, with Synopsys and Cadence shares rising notably.

In related developments, U.S. solar stocks, including First Solar, saw substantial gains, as broader market indices edged toward closing the holiday-shortened week positively. The rise in stock values was accompanied by a narrowing Republican vote on Trump's tax and spending bill, projected to significantly increase national debt over the next decade.

(With inputs from agencies.)