Stock market today: Dow, S&P 500, Nasdaq climb to records as sharp jobs revision sets stage for inflation data

Market Overview - US stocks reached new record highs, with the Dow Jones Industrial Average closing above 45,725, the S&P 500 above 6,512, and the Nasdaq Composite marking its second consecutive closing high this week [1] Labor Market Data - The Bureau of Labor Statistics reported that the US economy likely added 911,000 fewer jobs than previously estimated for the 12-month period ending March 2025, a larger revision than the expected 680,000 [2] Federal Reserve Expectations - The labor market data has heightened discussions on how the Federal Reserve will respond, with traders anticipating an interest-rate cut in the upcoming meeting. The focus has shifted to the potential magnitude of the cut and its implications for the stock market [3] Inflation Reports - Key inflation data, including the producer price index (PPI) and consumer price index (CPI), are set to be released, which will provide insights into whether rising prices could hinder significant interest-rate cuts [4] Corporate Highlights - Apple's annual fall event showcased new products, including the iPhone 17 and new AirPods, but its stock fell approximately 1.5% [5] - Tourmaline Bio and Nebius shares surged over 50% following deal announcements with Novartis and Microsoft, respectively [5] - Oracle and GameStop are scheduled to report earnings after market close [5]