Wall Street Breakfast Jobs market cheats death again
7 snips
Jul 3, 2025 Despite economic concerns, job growth continues to shine, with payrolls exceeding expectations for 54 consecutive months. Stocks surged amidst this positive news, while DataDog celebrated its inclusion in the S&P 500. However, Ford's CEO raised eyebrows by predicting that AI could displace half of white-collar jobs, stirring a debate on the future of work. The intersection of technology and employment remains a hot topic, reflecting a cautious optimism in the job market.
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Jobs Market Resilience
- The U.S. economy showed resilience with 147,000 jobs added in June, surpassing expectations.
- This marked the 54th consecutive month of job growth, the second longest streak ever.
Fed Rate Cut Expectations Adjusted
- The strong labor data lowered chances of a Federal Reserve rate cut in July to 7%.
- The Fed is expected to maintain its wait-and-see stance until clearer economic impacts emerge.
Stocks Rally on Jobs Data
- Stocks rallied on the positive jobs report despite reduced chances of Fed easing.
- Growth stocks continue to lead, benefiting from market momentum since April lows.