The S&P 500 (SNPINDEX:^GSPC) gained 0.62% to 7,758 to reach a record high. The Nasdaq Composite (NASDAQINDEX:^IXIC) rose 1.30% to 26,691 and the Dow Jones Industrial Average (DJINDICES:^DJI) climbed 0.28% to 54,037 as a surprising contraction in July payrolls fueled interest rate optimism.
Gold prices climbed 2.31% to $4,339.11 as of U.S. market close, and the 10-Year Treasury yield fell 0.03% to 4.65%. Communication services and energy were the only sectors to drop, while industrials and basic materials led the gainers.
Atlassian soared 35%, and Twilio gained 25% on robust quarterly results. Airbnb surged after an earnings beat while Trade Desk tumbled on disappointing earnings. Meanwhile, Papa John's International extended its losses after **** ysts downgraded the stock following yesterday's guidance cut.
Today's jobs data gave markets a boost, as surprise figures showed employers cut jobs in July. Nonfarm payrolls fell by 23,000, and unemployment fell to 4.1%. A weaker-than-expected jobs market means the Federal Reserve is more likely to hold interest rates steady in September, making traders less risk-averse.
After yesterday's sell-off in software stocks, today's earnings tell a more nuanced story: Both Atlassian and Twilio posted dramatic gains on the back of impressive earnings. Investors seem to be looking at how artificial intelligence (AI) is impacting demand for each firms' services and rewarding those who are turning the new technology to their advantage.

#earnings #gained #climbed #payrolls

The S&P 500 Index ($SPX) (SPY) closed up +0.62% on Friday, the Dow Jones Industrial Average ($DOWI) (DIA) closed up +0.28%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +1.19%. September E-mini S&P futures (ESU26) rose +0.55%, and September E-mini Nasdaq futures (NQU26) rose +1.17%.
Stock indices settled higher on Friday amid strength in corporate earnings results and reduced Fed rate hike fears. Stock indices found support on Friday as bond yields fell after US July nonfarm payrolls unexpectedly declined and average hourly earnings rose less than expected, bolstering speculation that the Fed won't be forced to raise interest rates any time soon. The 10-year T-note yield fell -3 bp to 4.65%. The payroll report cut the chances of a Fed rate hike at next month's FOMC meeting to 44% from 58% before the report.
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#Stock #closed #NASDAQ

Following a week of mixed data on hiring and layoffs, figures coming Friday from the Labor Department will be the arbiter of whether the job market remained stable in July.
Economists surveyed by Bloomberg expect the US economy added 80,000 positions, while the unemployment rate is expected to stay flat at 4.2%. That would be an improvement from June's jobs report, which showed payrolls grew by 57,000 jobs.
Private data released this week on the health of the labor market has been largely benign. Job openings slowed a touch in June, with little movement in quits, layoffs, and hiring rates. Private-sector hiring data from ADP, meanwhile, showed growth fell short of economists' predictions last month, but pay for job-switchers improved — a small bright spot. And the global outplacement firm Challenger, Gray & Christmas reported that layoff plans declined last month, while hiring plans increased.
An ******* ysis from the Bank of America Institute published Wednesday also noted that payroll growth appeared to accelerate in July, based on deposit account data. Job gains were led by lower-income households, while their annual after-tax wage growth surpassed that of higher-income households for the first time since December 2024.
"What's driving the pick-up in after-tax wage growth among lower-income households? Alongside strong job growth, we have also observed a rise in job-to-job movements disproportionately boosting lower-income pay growth," the ******* ysis said.

#Growth #data #hiring #lower

The U.S. dollar starts the day as traders focus on a series of major U.S. economic announcements that may influence expectations on the Federal Reserve's future policy. Following the Federal Reserve's recent announcement to leave their benchmark rate at 3.50% – 3.75%, traders will ****** yze today's JOLTS job openings, factory orders, and the ISM Services PMI, followed by the ADP private payrolls and the highly anticipated U.S. Nonfarm Payrolls report.
These upcoming economic releases will provide the first substantial evidence of if the U.S. economic calendar is starting to fade after recent indications of moderation within the U.S. labor market. Kevin Warsh, formerly of the Federal Reserve, said during the week that decisions from the Fed would remain data-dependent. While this has been the case, market participants have discussed if unemployment numbers that do not meet expectations may help alter the Fed's policy for this year. Reuters also noted the sensitivity of Treasury yields and the dollar to what the Fed calls "macro data."
The euro has support after last week's announcement from the European Central Bank. They stated that they would leave their deposit rate at 2.25%, and that they would continue their cautious, meeting-by-meeting approach. Traders have their eyes on euro zone retail sales and Germany's factory orders to signal the first signs of stabilization of domestic demand, all while ECB policymakers still insist that inflation is close to their 2% target.
Sterling still reflects last week's Bank of England decision to leave the coin at 3.75%. This week's UK services PMI, labor market, and activity data will show market participants what the British economy looks like as policymakers decide how to balance economic growth that is slowing with the danger of inflation continuing.
The US Dollar Index (DXY) is trading at 100.05. After last week's steep drop, this confirms efforts to reestablish a trading range. From the daily chart, the DXY has found support from a long-term ascending trendline that has guided price action since February. DXY buyers have defended the 99.48 horizontal support and prevented price action from weakening even further.

#traders #data

Despite one of the highest payrolls in the sport, the New York Mets have played like … well … the New York Mets in 2026. With the team sputtering in the first half, the Mets engaged in a significant fire sale at the trade deadline, with eight major-league players being shipped out.
Given the way the team played this season, you can't blame some fans for expressing relief that the team dismantled its disappointing roster. But you wouldn't expect to hear that from one of the team's broadcasters.
Keith Hernandez may have taken things a bit too far when discussing the team's moves at the deadline. Ahead of Tuesday's game, Hernandez said the Mets "took out all the garbage" with their deals.
Hernandez immediately seemed to realize calling former Mets players "garbage" was a poor decision, adding a "so to speak" to his ****** ysis after the fact.
And to further hammer home the point that Hernandez felt bad, he apologized for that term before Cleveland Guardians starter Joey Cantillo threw the first pitch.

#hernandez #team #played

Exactly 27 years to the day that Don Garber was introduced as Major League Soccer's second commissioner in 1999, LAFC co-managing owner Larry Berg pledged to improve on his predecessor's success upon taking over MLS' leading role on Jan. 1, 2027.
"My responsibility is to work with our clubs, our owners and everyone across this league to build on that foundation to help Major League Soccer reach its full potential," Berg, 60, told media members and hundreds of league employees Tuesday afternoon at the league's Manhattan headquarters.
Garber helped build MLS from a fledgling operation fighting to stay afloat and relevant to a 30-team behemoth with soccer-specific stadiums, youth academies and developmental leagues where the average franchise is valued at $767 million, a 39% increase since 2021. Of the 30 most valuable global soccer clubs, seven of them are MLS teams, led by Inter Miami, which stars Lionel Messi, arguably the greatest player in the sport's history. Sponsorship revenue in 2025 was an estimated $716 million, up 8% year over year.
But there are plenty of growth areas Berg, a former senior partner at Apollo Global Management and 26 North, wants to utilize as commissioner. The co-chair of MLS' sporting and competition committee, Berg has the full backing of league owners — who unanimously approved his appointment over the other finalist, former Fox executive David Nathanson — to enact meaningful changes to supercharge the league's growth. Garber already spearheaded a change in the league's calendar, which will switch to a fall-to-spring season starting in 2027 to align with the European leagues. That, Berg said, will greatly help the quality on the field, but so will changing the league's roster investment model so teams are able to acquire better players and build deeper rosters.
MLS currently has a $6.4 million salary cap, but various roster exceptions enable the majority of 2026 payrolls to be in the $12-21 million range. Owners have agreed that the current system is too restrictive. Berg said his No. 1 job is enhancing the roster investment model so teams can have more freedom to construct teams that work best for their markets.

#berg #teams #roster

For the first time in a couple of summers, the Oklahoma City Thunder had to recast their complementary pieces. You can't keep the same roster forever. Especially in the NBA. This group experienced that for the first time this offseason as they said goodbye to Lu Dort, Isaiah Joe and Aaron Wiggins.
Getting underneath the dreadful second apron, the Thunder had to make three cost-cutting moves. Out go Dort, Joe and Wiggins. In come seven future second-round picks. Three of OKC's best recent developmental stories head out East. Dort and Wiggins went to the Atlanta Hawks and Joe to the Detroit Pistons.
Even with weighted hearts, don't think anybody was surprised to see the Thunder shake up their role players. When you read out their future team payrolls, think this summer was circled as one where changes were inevitable. And considering how the NBA playoffs ended, it was obvious that all three would likely get moved out as they were phased out of the rotation.
Chet Holmgren was the latest to give his reaction to OKC's cost-cutting summer. The All-NBA talent talked at a USA Basketball Foundation charity event in Southern California. He had a breakout season last year, but his no-show outing in the 2026 Western Conference Finals soured things for a lot of folks.
"It's like losing a family member. That's how the business of this game goes," Holmgren said. "No team, all 17 guys, sticks together forever. But it doesn't make it hurt less when you see guys go. At the same time, I'm excited for them and the opportunity they're going to have in Atlanta. I'm happy for whatever major milestones they reach over there."

#forever

The U.S. dollar, euro and British pound enter a pivotal week as investors prepare for the Federal Reserve's July 29 to 30 meeting and the ECB's decision last week while new data comes through. Most **** ysts expect that the Fed will leave rates where they are, although the market will be watching out for clues from Chair Jerome Powell given that the latest US data has confirmed the strength of the economy.
June retail sales were up by 0.2% on the month, while the control group increased by 0.4%, and initial claims for unemployment benefits dropped to 208,000, a three-month low, underlining the strength of the consumer and the labour market. This week brings out the second-quarter GDP, the PCE inflation print for June and July non-farm payrolls which could alter thinking around the second half of the year.
The ECB decided to keep its deposit rate at 2.25% as it sees inflation edging toward its 2% target while remaining data-dependent. ECB President Christine Lagarde said growth remains weak, with members continuing to **** s the impact of the economic effect of trade and higher energy costs on the economic environment.
Sterling remains supported by expectations that the Bank of England will proceed cautiously after it kept Bank Rate at 3.75%, and it sees the UK policymakers juggle between curbing inflation and a steady wage-growth and a cooling labour market. UK mortgage approvals, consumer credit and business surveys are released this week as they provide evidence for the economy ahead of the next Bank of England meeting.
The U.S. Dollar Index is maintaining a healthy uptrend after bouncing off support in the 100.50 zone along the uptrend line. Currently, the index trades at 101.28, keeping the 50-day EMA (101.12) and 100-day EMA (101.01) beneath the index level. The RSI is sitting at 53.

#market #inflation #england

KANSAS CITY, MISSOURI - AUGUST 02: Owner Steve Cohen of the New York Mets talks with members of the media prior to a game between the New York Mets and Kansas City Royals at Kauffman Stadium on August 02, 2023 in Kansas City, Missouri. (Photo by Ed Zurga/Getty Images)
For much of the 2026 season, the New York Mets have found themselves at the center of trade speculation, front-office scrutiny and one of the most disappointing stretches in franchise history. With one of baseball's highest payrolls failing to produce consistent results, frustration has followed the club into the second half.
That backdrop unexpectedly spilled into politics this week, when President Donald Trump used the Mets as the punchline while praising a longtime Atlanta Braves executive during a public appearance in Georgia. The remark came as the Mets continue battling through a historic losing streak and questions surrounding the direction of owner Steve Cohen's high-priced roster.
FORBES | By Peter Chawaga
Mets’ Former Southpaw Leaves MLB After Latest Cut
During an appearance in Marietta, Trump praised both former Braves manager and Hall of Famer Brian Snitker and Braves Development Company CEO Mike Plant, joking that he'd found a better option than Mets owner Steve Cohen, who has failed to **** emble a winning team this season.

#city #steve #missouri #august

This article was originally published on ETFTrends.com.
First Half of 2026 Sees a Shift in Leadership
Despite conflict in the Middle East, sharp oil price swings, and resurging inflation concerns, equity markets posted positive returns in the first half of 2026 amid de-escalating geopolitical risk, strong corporate earnings led by the AI infrastructure buildout, and a still-resilient economy. The Nasdaq-100 Index and S&P 500 Index recovered sharply within the period, each rallying over 32% and 18%, respectively, since the March lows. Notably, US small-caps via the Russell 2000 Index saw their strongest first half since 1991, gaining over 22%. US mid-caps (+17.4%) and international developed equities (+15.1%) followed. Bonds mostly fared well as high yield credits rose 1.9%, municipal bonds gained 1.8%, and Treasury Inflation Protected Notes were up 1.2%. Aside from silver (-17.0%) and gold (-7.0%), commodities posted positive returns as crude oil surged 53.9% and broad-based commodities rose 14.4%.
Fed Holds, Warsh Signals Less Guidance
The Federal Reserve held the federal funds rate steady at the June FOMC meeting, keeping the target range at 3.50–3.75%. This marks the 4th consecutive hold in 2026 and was the first meeting chaired by Kevin Warsh, who succeeded Jerome Powell as Chair. While the decision to hold was widely expected, the accompanying communication shifted in a more hawkish direction. The policy statement was shortened to roughly 130 words from 341 in April, removed prior language signaling a bias toward future cuts, and emphasized that the Committee "will deliver price stability." Consistent with his prior skepticism of forward guidance, Chair Warsh also declined to submit his own projection in the dot plot. The economic backdrop offered little reason to ease, as May PCE rose 4.1% year-over-year, its highest reading since April 2023, while Nonfarm Payrolls remained firm at 172,000 and the unemployment rate held at 4.3%. The updated Summary of Economic Projections reflected the shift, with nine of eighteen officials now penciling in at least one 25 bps hike in 2026 and six projecting at least two, lifting the median year-end funds rate forecast to 3.8% from 3.4% in March and reversing the cut previously expected. Looking ahead, market pricing via the CME FedWatch Tool implies another hold at the July meeting, with the next move now priced as a hike rather than a cut.

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July 8, 2026 10:11 am ET
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OTTAWA—Human-resources company ADP plans to launch a Canadian wage tracker that promises to offer insights into payrolls and the health of the country’s labor market.

Coming off a holiday-shortened week filled with tons of labor market data and a surprising jobs report, investors are greeted with a relatively quiet stretch in the week ahead.
Markets will pick things up after a mixed Thursday that saw an unsure market with the S&P 500 (^GSPC) closing flat, the Nasdaq (^IXIC) falling 0.8%, and the Dow (^DJI) gaining 1.1%.
Monday is likely to be the biggest day to watch on the economic calendar, with a host of index readings from S&P Global and the Institute of Supply Management set to give investors a read on the state of the US service economy.
That data comes after the monthly private payrolls release from data provider ADP showed that the services side of the economy added the dominant count of jobs in June.
In the corporate world, reports from PepsiCo (PEP) on Thursday and Delta Air Lines (DAL) on Friday should highlight the week. PepsiCo's results should give investors some insight into the state of the American consumer, while Delta is set to provide one more read on the lasting effects of the war in Iran and the energy crisis it kicked off.

Jamie ****** , a managing partner at Harris Financial Group in Richmond, Virginia (with $1.3 billion in ****** ets under management), had a visceral reaction to the June jobs number from the U.S. Bureau of Labor Statistics: "These data are misleading and should be disregarded," he said in an email to Fortune. "There is zero chance leisure and hospitality posts a negative print in the midst of the World Cup. Revisions higher in the next few months are coming."

He's not alone.

Increasingly, ****** ysts and economists at major banks and financial institutions are saying they don't believe the numbers. Partly, this is a routine function of the way in which the U.S. government collects economic stats. It takes time to gather all the survey data needed to describe hiring (nonfarm payrolls, in the official lingo), and the BLS publishes a series of revisions to its numbers as the months go by.

So not believing the initial figure is par for the course. The numbers will always be revised later as straggling data sets and survey responses trickle in. This chart from Pantheon Macroeconomics shows the scale of the revisions over time—usually downward:
But this time, there was a number in the jobs data that, on its face, stands out as being implausible: The leisure and hospitality sector lost 61,000 jobs in June, the BLS reported, even though the U.S. is hosting the single largest sporting event on the planet—the World Cup.

Is it really likely that dozens of soccer matches, followed by hundreds of thousands of domestic fans and foreign tourists, somehow resulted in fewer people being employed in hotels, bars, and restaurants?
Pimco economist Tiffany Wilding said the sector "was actually expected to benefit from World Cup hiring."
RSM Chief Economist Joe Brusuelas said in an email that the report should be taken "with a grain of salt." "Expect an upward revision to the top-line June estimate when the July data is released," he said.
There is good evidence that the World Cup has juiced economic activity recently. This chart from Bank of America shows card spending was up 5.4% year-on-year over the group stage of the cup. "The boost is being particularly driven by 'non-locals' coming into the cities for the matches, whose spending was up 17.4%," BofA Institute's Liz Everett Krisberg and David Tinsley said in an email.

Welcome to SB Nation Reacts, a survey of fans across the MLB. Throughout the year we ask questions of the most plugged-in Arizona Diamondbacks fans and fans across the country. Sign up here to participate in the weekly emailed surveys.
Since I was out of range this week – I will be leaving a one-star review on Yellowstone’s TripAdvisor page, due to the lack of wifi – there was no specifically D-backs related question this week. So let’s just discuss the national poll, sent out to those on the list (and if you aren’t on it, the link above has you covered). There were three questions. The first was in regard to which executive was on the hottest seat. You probably won’t be surprised to discover that the Mets’ David Stearns was the clear winner there, at 62%. However, the Giants’ Buster Posey (20%) while the Red Sox – and former D-back – Craig Breslow (18%) also got significant support.
These are all examples of teams with large payrolls, in excess of $210 million cash value per Spotrac, putting them comfortably in the top half of MLB spending this year. But they are also all struggling: the Red Sox, at 38-48, have the best record. We’re still not even at the All-Star break, and they only have a fifteen percent chance of making the playoffs, according to Fangraphs – and that feels generous to me. The Mets and Giants might as well pack it up and go home. New York and Boston have already fired their managers, and one wonders how long San Francisco will stick with Tony Vitello, the first man to go straight from a college job to MLB management.
Related: another question was “Who won the Rafael Devers trade?” and a resounding victory there was “No one” at 69%. However, the Red Sox did beat the Giants in the remainder, by a 22-9 percent margin. That seems fair. Boston did get to dump a massive contract for a player who was increasingly toxic there. However, the players they got back have either fizzled, or been traded on. For example, Kyle Harrison was yesterday’s starter for the Brewes against the D-backs, and despite his struggles there, is 8-1 with an excellent 2.82 ERA. Meanwhile, Devers has been worth just 3.2 bWAR over a year and a half. He’s on the SF books for seven more seasons and $225 million. Yep. Happy not to be them.

The dollar index (DXY00) fell to a 2-week low on Thursday and finished down by -0.52%. The dollar tumbled on Thursday after a weaker-than-expected US June payroll report, which dampened speculation that the Fed will tighten monetary policy anytime soon. The dollar was also under pressure on Thursday after WTI crude fell to a 4.25-month low, which lowers inflation expectations and is dovish for Fed policy. The dollar found some support after weekly jobless claims unexpectedly declined and after May factory orders fell less than expected.
US Jun nonfarm payrolls rose +57,000, weaker than expectations of +113,000, and May nonfarm payrolls were revised lower to +129,000 from the originally reported +172,000. The Jun unemployment rate unexpectedly fell -0.1 to a 1-year low of 4.2%, showing a stronger labor market than expectations of no change at 4.3%.
Dollar Rises With T-note Yields
Dollar Supported by Euro and Yen Weakness
June's Top Commodity Performers and Underperformers

NEW YORK (AP) — Most U.S. stocks rose on Thursday, and the Dow Jones Industrial Average rallied to another record, but more drops for computer chip companies and other winners of the artificial-intelligence boom kept indexes mixed.
The S&P 500 finished the day virtually unchanged and edged up by less than 0.1%, even though seven out of every 10 stocks within the index rose. The Dow jumped 594 points, or 1.1%, while the Nasdaq composite dropped 0.8% after erasing an early gain.
Stocks broadly got some help from a report showing that U.S. employers added 57,000 jobs to their payrolls last month. That's growth, which is good for the economy, but it was also short of the 100,000 jobs that economists expected and a slowdown from May's hiring pace.
The bright side of the weaker-than-expected result is that it could keep pressure off inflation, which has been accelerating worldwide because of jumps in oil prices caused by the war with Iran. And now that oil prices are back below where they were before the war, if inflation slows in upcoming months, the Federal Reserve may feel less need to raise interest rates several times this year.
That would be a relief for investors, who tend to love lower interest rates because they can give the economy a boost by making it less expensive for U.S. households and businesses to borrow money and spend. Lower rates also tend to push upward on prices for stocks and other investments.

US stocks rose on Thursday as investors ***** sed a June jobs report that tempered expectations for the next move in interest rates.
The Dow Jones Industrial Average (^DJI) ticked up roughly 0.5%, while the S&P 500 (^GSPC) nudged up 0.3%. The tech-heavy Nasdaq Composite (^IXIC) rose 0.2% following Wednesday's chip sector-led slide.
The spotlight is on the monthly jobs report after Federal Reserve Chairman Kevin Warsh urged Wall Street to look to data to help map out the path of interest rates, rather than looking to the central bank for forward guidance.
The nonfarm payrolls release fell short as the economy added 57,000 jobs in June, compared with the 113,000 expected. The unemployment rate came in at 4.2%, versus the 4.3% forecast. The cooler jobs reading broke a three-month hot streak, supporting the case for the Fed to continue to hold rates steady, but keep a hike in play for later in the year.
Elsewhere, pressure on techs lingered after a sell-off in South Korean chipmakers helped drive a 7.9% plunge for the Kospi (^KS11) stock benchmark. Shares in memory makers SK Hynix (000660.KS) and Samsung Electronics (005930.KS, SSNLF), which each recently laid out massive AI investments, sank over 14% and 9%, respectively.

The New York Mets entered the 2026 season with one of the highest payrolls in the sport. Through 80 games, the team somehow has one of the worst records in baseball.
But the Mets hit a low point Wednesday, getting swept in a double-header vs. the Chicago Cubs. The Cubs scored 10 runs in both games, but that wasn’t the most embarrassing aspect of the Mets’ losses.
That came in the second game of the doubleheader, which saw the Mets make an astounding six infield errors in a 10-5 loss.
Yes, there is a compilation of every single one of those errors.
In case you need a full accounting of the errors:

PBW crashed 11% after May payrolls doubled consensus at 172,000, spiking the two-year Treasury yield to a 16-month high of 4.16%.
ENPH sank 18% while FSLR dropped 11%, with cash-flow-negative names hit hardest as rising rates crushed long-duration equity valuations.
Despite a 34% YTD gain, PBW sits 47% below its 2021 peak, with every major drawdown tied to rising long-term rates.
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A $10,000 stake in the Invesco WilderHill Clean Energy ETF (NYSEARCA:PBW) at Thursday's close was worth ~$8,920 by Friday's close, and the cause traces directly to a sharp move in two-year Treasury yields rather than to anything inside a single clean energy company. PBW fell roughly 11% on June 5, 2026, closing near $41 after starting the day around $46, and the cause sits one layer up the macro stack from anything to do with panels, inverters, or hydrogen.

PBW crashed 11% after May payrolls doubled consensus at 172,000, spiking the two-year Treasury yield to a 16-month high of 4.16%.
ENPH sank 18% while FSLR dropped 11%, with cash-flow-negative names hit hardest as rising rates crushed long-duration equity valuations.
Despite a 34% YTD gain, PBW sits 47% below its 2021 peak, with every major drawdown tied to rising long-term rates.
It sounds nuts, but SoFi is giving new active invest users up to $1,000 in stock for a limited time, and all it takes is a $50 deposit to get started. See for yourself (Sponsor)
A $10,000 stake in the Invesco WilderHill Clean Energy ETF (NYSEARCA:PBW) at Thursday's close was worth ~$8,920 by Friday's close, and the cause traces directly to a sharp move in two-year Treasury yields rather than to anything inside a single clean energy company. PBW fell roughly 11% on June 5, 2026, closing near $41 after starting the day around $46, and the cause sits one layer up the macro stack from anything to do with panels, inverters, or hydrogen.

The freight downturn that defined 2023 and 2024 has decisively reversed, and the May data clarifies the mechanism behind it: industrial production, rather than consumer spending or inventory restocking, is now driving the cycle. FreightWaves identified the inflection months ago. The latest readings from the Institute for Supply Management and the Logistics Managers’ Index, corroborated by real-time tender data, confirm it.
The ISM Manufacturing PMI registered 54.0 in May, up 1.3 points from April and the highest reading since May 2022. The index has now held above the expansion threshold for five consecutive months, following a 10-month contraction. On ISM’s own regression, a 54.0 composite is consistent with roughly 2.2% annualized growth in real GDP.
The internals are stronger than the headline. The New Orders index rose to 56.8, comfortably above the 51.9 level ISM identifies as the breakeven for rising Census manufacturing orders in constant dollars. Production reached 54.3, above the 52.0 threshold ***** ociated with rising Federal Reserve industrial output. As a forward-looking series, new orders typically lead realized freight volumes by several weeks, which makes the current reading the more economically meaningful of the two.
Breadth reinforces the signal. All six of the largest manufacturing industries expanded in May — led by computer and electronic products, machinery, and transportation equipment — and 16 of 18 industries reported growth, with only wood products in contraction. Diffusion of this width is characteristic of a self-sustaining expansion rather than a narrow, sector-specific rebound.
The labor data points to a productivity-led expansion. The Employment index came in at 48.6 — still below the 50.3 breakeven for rising BLS manufacturing payrolls, but up 2.2 points and trending toward it. Manufacturers have expanded output for seven straight months while holding headcount roughly flat, indicating they are absorbing incremental demand through existing capacity. Payroll growth typically lags output in the early phase of an industrial recovery; the trajectory of the employment index suggests hiring is the next stage.

The US economy added 119,000 positions in September, data from the Bureau of Labor Statistics showed Thursday, an unexpected boost to the labor market that has lately shown signs of a possible slowdown.
Wall Street economists expected a gain of around 50,000 positions, according to data from Bloomberg. While the September number beat economists’ expectations, revisions to prior months’ data showed August’s payrolls lost 4,000 jobs, compared to the previously reported gain of 22,000. July also showed a slightly smaller boost of 72,000 positions, instead of 79,000.
The unemployment rate, meanw

The US economy added 119,000 positions in September, data from the Bureau of Labor Statistics showed Thursday, an unexpected boost to the labor market that has lately shown signs of a possible slowdown.
Wall Street economists expected a gain of around 50,000 positions, according to data from Bloomberg. But, while the September number beat economists’ expectations, revisions to prior months’ data showed August’s payrolls lost 4,000 jobs, compared to the previously reported gain of 22,000. July also showed a slightly smaller boost of 72,000 positions, instead of 79,000.
The unemployment rate,

America's labor market continues to cool, and the gig economy is quietly absorbing some of the employment strain being felt across the country.
A new Goldman Sachs ***** ysis found that platform-based gig work opportunities — which include major tech players like Uber (UBER), DoorDash (DASH), and Instacart (CART) — are holding up as traditional payroll growth cools.
About 20% of people who lost pay, lost a job, or had hours cut turned to gig platforms to make up the difference, the ***** ysis said. More signs of a shrinking labor market are expected in this week's delayed September payrolls