Wall Street rallied on Thursday to record closing highs, as chipmaker Nvidia rose closer to a $4 trillion valuation and a surprisingly strong U.S. jobs report cheered investors, who shrugged off dimming chances for an interest rate cut this month.

US stocks close higher after strong jobs data. S&P 500 and Nasdaq reach records. Mega tax bill is likely to pass. Trump tariff deadline is next week.

NEW YORK >> Wall Street rallied today to record closing highs, as chipmaker Nvidia rose closer to a $4 trillion valuation and a surprisingly strong U.S. jobs report cheered investors, who shrugged off dimming chances for an interest rate cut this month.

Employers across the U.S. added 147,000 jobs in June, with the labor market remaining resilient despite slowing economic growth this year. Job growth was stronger than expected in June. Payroll gains sailed past the 115,000 predicted by economists polled by financial data firm FactSet.

The unemployment rate ticked down to 4.1 percent, according to a jobs report released Thursday by the Labor Department, reflecting the exit of workers from the labor market. The June unemployment rate hovers near a historically low level.

The U.S. labor market delivered another upside surprise last month, churning out a surprisingly strong 147,000 jobs. The unemployment rate ticked down unexpectedly, too. But the headline numbers masked some weaknesses as the U.

Strong U.S. jobs data sent the dollar and Wall Street higher on Thursday, while in Europe, Britain's bond markets recovered from a renewed burst of debt worries. The announcement of a deal between the United States and Vietnam ahead of next week's worldwide U.

Stock markets rose and the dollar held steady Thursday as strong jobs data showed the resilience of the US economy.

Stocks mostly rose Thursday and the dollar fell as investors eye US jobs data that could play a key role in the Federal Reserve's interest rate policy, while investors gave a lukewarm reception to the US-Vietnam trade deal.