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## Market Overview

Stocks climbed on Friday after the February jobs report showed an uptick in the unemployment rate, bolstering investor confidence that the Federal Reserve will cut rates following its June meeting. This positive news led to a 0.2% rise in the S&P 500 (^GSPC), while the Dow Jones Industrial Average (^DJI) remained flat. The tech-heavy Nasdaq Composite (^IXIC) also saw gains of 0.3% after a strong performance the previous day.

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## Job Market Report

Friday’s non-farm payrolls report showed the US economy added 275,000 jobs in February, exceeding Wall Street expectations. However, the unemployment rate ticked up to 3.9%, marking the first increase in four months. Despite this, futures on the three major averages were trading in red figures ahead of the jobs data.

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## Central Bank Actions

The market received a boost this week as Chair Jerome Powell hinted that the Federal Reserve is close to being confident inflation is at an optimal level for reducing borrowing costs. Additionally, policymakers from the European Central Bank have expressed support for a rate cut, while the Bank of Japan officials are considering lifting rates from the negative zone, indicating a shifting global monetary policy landscape.

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## Corporate Updates

On the corporate front, Costco (COST) shares dropped by 5% due to a quarterly sales miss overshadowing an earnings beat. Meanwhile, Broadcom’s (AVGO) revenue beat and forecast for $10 billion in sales of AI-linked chips failed to impress investors, leading to a more than 2% decline in the stock price.

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## Commodities Market

In commodities, gold futures (GC=F) continued to rally, with spot gold poised for its largest weekly jump in five months amid optimism for a mid-year Fed rate cut. This bullish trend in the commodities market reflects investor expectations of a more dovish monetary policy stance.

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