On Thursday, the Dow Jones Industrial Average ($DOWI) reached a new all-time high, closing up +1.14%, while the S&P 500 ($SPX) remained unchanged, and the Nasdaq 100 ($IUXX) fell by -1.61%. Key economic data showed that U.S. nonfarm payrolls increased by only 57,000 in June, falling short of estimates of 113,000, and May’s figures were revised down to 129,000 from 172,000, indicating a slowdown in job growth.
The unemployment rate dropped to 4.2%, its lowest in a year, despite weaker hiring. Additionally, initial unemployment claims decreased to 215,000, better than the anticipated rise to 218,000. In factory data, May orders fell by 1.3%, also less than the projected 2.0% decline. Global crude oil supplies are rising, with WTI crude hitting a 4.25-month low, as the UAE increased shipments by 30% to over 3.9 million bpd.
Chipmakers, heavily affected by news from South Korea’s markets, continued to decline, with the iShares Semiconductor ETF (SOXX) down over -5%. In contrast, software stocks like Adobe surged by more than +4% following an upgrade, and Apple rose over +4% on news of increased foldable iPhone production plans.
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