US stocks climb as weak June jobs data eases Fed rate‑hike expectations

The S&P 500 traded around 7,523 and the Nasdaq rose above 26,148, gaining roughly 0.5% and 0.4% respectively after the June non‑farm payroll report showed the economy added only 57,000 jobs, far below the 115,000 forecast. The unemployment rate unexpectedly fell to 4.2%, signaling a still‑resilient labour market but reducing pressure on the Federal Reserve to raise interest rates.

Investors interpreted the softer payroll numbers as a signal that a July Fed rate hike is less likely. Treasury yields and the U.S. dollar retreated, supporting equity valuations. Technology and growth stocks led the rally, with names such as Nike, Apple and Boeing each gaining more than 3%. Lower oil prices also helped ease inflation concerns. Market participants will continue to watch upcoming inflation data and Fed commentary for clues on future policy direction.