01:13 PM EDT, 07/03/2025 (MT Newswires) -- US benchmark equity indexes closed higher on Thursday, after the June employment report beat expectations.

The Nasdaq was up 1% to 20,601.10 while the S&P 500 increased 0.8% to 6,279.35. The Dow Jones Industrial Average rose 0.8% to 44,828.53. Technology led the gainers, while the materials sector was the lone decliner.

US Treasury yields were higher, with the 10-year rate increasing 6.5 basis points to 4.35% and the two-year rate rising 9.7 basis point to 3.89%.

August West Texas Intermediate crude oil fell 0.8% to $66.95 a barrel on Thursday.

In economic news, nonfarm payrolls rose by 147,000 in June, above the 106,000-job increase expected in a survey compiled by Bloomberg.

Federal Reserve officials are unlikely to interpret the June employment report as a sign of labor market strength, but the data is too unclear to shift their stance in favor of a rate cut later this month, Jefferies' Chief US Economist Thomas Simons said in a note Thursday.

"The Fed's approach to policy in this cycle has been reactive, rather than proactive, building on the lessons of history from past policy mistakes," according to the note.

The S&P Global US services index was revised downwards to 52.9 in June from the 53.1 flash reading, compared with expectations for no revision in a survey compiled by Bloomberg.

The seasonally-adjusted number of initial claims fell by 4,000 to 233,000 for the week ended June 28, according to the Department of Labor. The consensus was for a 241,000 reading in a Bloomberg poll.

The US international trade deficit widened to $71.52 billion in May from a revised $60.26 billion gap in April. Exports fell in the month, while imports were slightly lower.

In company news, First Solar ( FSLR ) shares jumped 8.5%, the top performer on S&P 500. Rivals Enphase Energy ( ENPH ) , SolarEdge ( SEDG ) and Sunrun ( RUN ) were up 3.9%, 17% and 17%, respectively.

Cadence Design Systems ( CDNS ) and Synopsys ( SNPS ) shares were up 5.1% and 4.9%, respectively. The companies said that the US rescinded export restrictions on electronic design automation software to China.

EQT (EQT) shares were down 1.5% even after Wells Fargo and Tudor Pickering Holt raised their respective price targets on the company's stock.

Gold decreased 0.5% to $3,344 per ounce, while silver was up 0.9% to $37.05 per ounce.