US Markets Highlights — Jun 29, 2026 | Aivina
June 29, 2026
US markets experienced mixed trading as investors digested conflicting economic data. Early week labor reports suggested cooling, but Friday's Non-Farm Payrolls surged past expectations, indicating robust job growth. This strong jobs report, coupled with persistent wage growth, complicates the Federal Reserve's path, likely delaying anticipated interest rate cuts. Inflation remains above target, contributing to a cautious market sentiment.
Highlights
- Equities traded cautiously; Tech stocks showed resilience; Investors awaited key jobs data.
- JOLTS openings fell significantly; ADP private payrolls softened; Manufacturing sector contracted further.
- Non-farm payrolls exceeded expectations; Unemployment rate rose slightly; Wage growth remained elevated.
Macro Overview
Inflation
Inflation remains above the Fed's 2% target, with April PCE at 2.7% and CPI at 3.4%, showing signs of moderation.
Interest Rate Outlook
Fed maintains data-dependent stance. Strong jobs report pushes back rate cut expectations, with fewer cuts priced for 2024.
Risk Sentiment
neutral
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