S&P 500, Nasdaq hit record highs as markets digest economic data

NEW YORK, June 5 - The S&P 500 and Nasdaq indexes hit record intraday highs on Wednesday, powered mainly by technology stocks as markets digested economic data that could support a much-expected start to the Federal Reserve's policy easing cycle.

The May private payrolls report on Wednesday became the latest data to suggest an easing in labor market tightness that could propel the Fed to begin cutting rates this year. A report on Tuesday showed job openings fell in April to the fewest in more than three years. At 2:31 p.m. EDT, the Dow Jones Industrial Average , opens new tab rose 100.17 points, or 0.26%, to 38,811.30, the S&P 500 , opens new tab gained 51.90 points, or 0.98%, to 5,343.24 and the Nasdaq Composite , opens new tab gained 282.29 points, or 1.67%, to 17,139.36.

Hewlett Packard Enterprise , opens new tab rose 12% after forecasting third-quarter revenue above Street expectations, helped by upbeat demand for its AI servers. CrowdStrike Holdings , opens new tab jumped 10% after forecasting second-quarter revenue above estimates when markets closed on Tuesday.

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