Investors cautious as stock market holds steady after strong jobs report.

The S&P 500 and Nasdaq rose as Apple hit an all-time high ahead of its annual software developer conference. Investors are weighing up the chances of the Federal Reserve pausing interest rate hikes at its upcoming policy meeting. Traders have priced in a nearly 80% chance that the Fed will hold interest rates at its June 13-14 policy meeting, according to CME Group's Fedwatch tool, though they expect another hike in July. The rebound has put the S&P 500 on track to close 20% above its October 2022 closing lows.