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U.S. job growth slowdown affects stocks
The U.S. employment report for June showed an addition of 57,000 jobs compared to expectations of 110,000. Meanwhile, the unemployment rate decreased to 4.2% from an anticipated 4.3%. This led to a reduction in the likelihood of interest rate hikes by the Federal Reserve to 76%, down from 84% prior to the report's release. Despite this, the Dow Jones Industrial Average rose by 0.72% to reach 52,683.38 points, while the Nasdaq declined by 0.61% to 25,880.76 points, reflecting market divergence following a slowdown in the labor market's growth.
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