Wall Street Surges to Record Highs Amid Nvidia's Rise and Strong Jobs Report

In a remarkable session on Wall Street, major indices soared to record highs. Leading the charge was chipmaker Nvidia, nearing an unprecedented $4 trillion valuation. A robust U.S. jobs report further bolstered investor confidence, helping to mute concerns over a possible delay in interest rate cuts.

The S&P 500 and Nasdaq concluded the day with record-setting figures, marking their third consecutive week of gains. The Dow also closed up 0.77%, close to its historical peak. Nvidia's 1.3% rise brought its market cap to $3.89 trillion, as it edges closer to becoming the most valuable company globally, threatening to surpass Apple.

While retail investors largely disregarded looming inflationary pressures, they focused on the positives from the latest employment data. However, the prospect of a significant tax cut under President Trump's administration poses potential long-term inflation risks. The session ended earlier than usual in light of the upcoming Independence Day celebrations.

(With inputs from agencies.)