Overview

• Bureau of Labor Statistics data showed nonfarm payrolls rose by 147,000 in June and the unemployment rate fell to 4.1%.
• The S&P 500, Nasdaq Composite and Dow Jones Industrial Average each closed at record levels following the report.
• Treasury yields rose sharply as futures traders priced in a roughly 95% probability of no Federal Reserve rate cut in July.
• Investors are focusing on the impending expiration of the 90-day tariff pause, which could reshape trade policy.
• The Senate passed President Trump’s tax megabill and sent it back to the House for a final vote.