US and Australia jobs reports influence rate outlook

U.S. equity markets are watching upcoming jobs data for clues on the Federal Reserve’s next policy move. Analysts say a strong payrolls report could push Fed funds futures toward a September rate hike, adding volatility to tech‑heavy indices that have already seen mixed performance amid a surge in semiconductor stocks and lingering inflation pressure.

In Australia, the labour market rebounded in May with a net gain of 40,300 jobs and the unemployment rate easing to 4.4% from 4.5%. Household spending also rose as travel recovered, supporting the Reserve Bank of Australia’s decision to keep the cash rate at 4.35% while leaving open the possibility of one more hike this cycle. Both reports highlight continued resilience in major economies and shape expectations for future monetary‑policy actions.