U.S. stocks edge higher as 57,000 June job gains lift bets on Fed pause
AI Market Summary
A much weaker U.S. June payrolls print (57k vs 100k expected) pushed Treasury yields lower and raised expectations the Fed will hold rates this month (futures imply ~80% no-hike). The rates relief supported broad U.S. equities, lifting the S&P 500, Dow and Nasdaq, while oil fell on easing geopolitical risk expectations. Chip stocks remained mixed, indicating selective risk appetite.
Impact level
● High
Affected assets
NCSISP5002USD/USDT+0.41%
AI Insight · NCSISP5002USD/USDTAI Insight
▲ Bullish
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U.S. payrolls rose by 57,000 in June, well below the 100,000 economists expected, sharpening market expectations that the Federal Reserve will hold rates steady. Fed funds futures now imply an 80% probability of no hike at the meeting later this month. U.S. stocks climbed, with the S&P 500 up 0.4%, the Dow up 0.5% and the Nasdaq up 0.3%, while the 10-year Treasury yield slipped to 4.47%. Brent crude fell 1.2% to $70.68 a barrel as Micron gained 2% and AMD fell 1.5%.
