U.S. Labor Market Slows Ahead of Payroll Report

U.S. private employers added only 98,000 jobs in June, well below the expected 118,000 and lower than 122,000 in May. The weaker labor data strengthened expectations that the Federal Reserve could delay further rate hikes, increasing market attention on the official nonfarm payroll report.

Eurozone Manufacturing Maintains Growth Momentum

The Eurozone Manufacturing PMI stood at 51.4 in June, marking the fifth consecutive month above the 50 expansion threshold. France outperformed with a PMI of 51.2, while Spain slipped into contraction at 49.7, highlighting uneven industrial recovery across the region despite easing input cost pressures.

Asian Markets Retreat as Semiconductor Stocks Correct

Asian equities opened July on a cautious note with South Korea’s KOSPI falling 2.7%, Japan’s Nikkei declining 1.1%, and the MSCI Asia Pacific ex-Japan Index losing 0.8%. The selloff was led by major chipmakers after a strong AI-driven rally during the previous quarter.

U.S. Manufacturing Expansion Continues Despite Higher Costs

The U.S. ISM Manufacturing PMI eased slightly to 53.3 from 54.0, remaining in expansion territory for a sixth consecutive month. Factory input prices declined from 82.1 to 73.0, indicating moderating inflation pressures even as manufacturers continued to face elevated production costs.