U.S. Stock Market Developments

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S&P 500 futures rose 0.4% while Nasdaq 100 futures gained 0.7% after nonfarm payrolls rose 57,000 in June, below 114,000 estimate

US Nonfarm Payroll and Employment Levels

I=8 Nonfarm payrolls rose 57,000 in June, below 114,000 estimate Nonfarm payrolls rose 57,000 in June, below 114,000 estimate and down from 129,000 in May (revised downwards from 172,000). The report likely pushes the urgency of interest rate hike to September from July. Unemployment rate fell to 4.2% from 4.3% but in line with estimates. Labor force participation rate moved down to 61.5% from 61.8%. Average hourly earnings rose 0.3% on the month, in line with estimate and unchan…