Stocks Rise on Hopes of Fed Rate Cuts Despite Slowing Jobs Market

Wall Street stocks advanced on Thursday due to recent economic data increasing hopes for interest rate cuts later this year
Initial jobless claims data showed signs of slowing labor market, supporting Fed's plans for 3 rate cuts in 2019
Comments from Fed Chair Jerome Powell reinforced path to future rate cuts while noting cuts would happen when inflation moves sustainably to 2% target
Investors closely monitoring further Fed guidance on timing of rate cuts before Friday's jobs report
Technology and real estate sectors led stock gains; Meta Platforms rose most among megacaps after analyst upgrade