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US stocks climb on softer jobs data
U.S. stocks rose at the opening of trading after the June jobs report was released, which showed the addition of 57,000 jobs—fewer than the expected 114,000. This may give the Federal Reserve an opportunity to keep interest rates unchanged without tightening further. The S&P 500 index increased by 0.4%, the Nasdaq by 0.2%, and the Dow Jones by 0.5%. The data indicate a slowdown in the U.S. labor market’s growth, with the services sector continuing to expand despite declines in the entertainment and hospitality sectors. The job results are seen as a sign that the Fed could adopt a more accommodative monetary policy, even as technology stocks and AI chip companies declined due to concerns about investment and future returns.
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