The Vanguard S&P 500 ETF (VOO) closed at $541.41 on January 7, 2025, down 1.12% as Wall Street reacted to strong economic data that dampened hopes for early Federal Reserve rate cuts. The S&P 500 index, which VOO tracks, fell 1.11% to 5909.03. The Labor Department reported 8.098 million job openings in November, surpassing forecasts and raising doubts about the pace of monetary easing. This economic resilience led investors to push back expectations for the Fed's first rate cut to June, according to CME's FedWatch tool. The 10-year Treasury yield surged to 4.677%, its highest since May 2024, putting pressure on interest-rate-sensitive sectors. Technology stocks were particularly affected, with Nvidia dropping 2.6% and Tesla falling 2.9% following a downgrade by BofA Global Research. The Nasdaq Composite also declined by 1.09%, driven by losses in major tech firms.