Key Points
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Apple’s stock surged 4% on July 2, 2023, following reports of expanded foldable iPhone production, adding $182 billion in market capitalization.
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June’s jobs report revealed only 57,000 new positions created, significantly below the expected 110,000, while the unemployment rate decreased to 4.2% from 4.3%.
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The semiconductor sector continued its decline, with Micron stock dropping 5.8%, contributing to broader market trends on Wall Street.
On Thursday, the Dow Jones Industrial Average climbed 0.7%, while the S&P 500 and Nasdaq Composite fell by 0.2% and 0.8%, respectively. Apple’s positive performance provided a significant boost amidst generally negative trends in tech, particularly affecting major players like Tesla and Micron.
Despite the recent soft jobs data, which is expected to lessen pressure on the Federal Reserve regarding interest rates, oil prices and other market sectors, including gold and Bitcoin, showed unusual movements signaling market uncertainty.
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