Reported 11 months ago
US stocks fell as bond yields surged following a better-than-expected May jobs report that saw the addition of 272,000 jobs with a rise in average hourly earnings to 4.1%. The 10-year US Treasury yield spiked to 4.40%. Despite the positive numbers, the unemployment rate increased to 4.0%, leading to doubts about a potential interest rate cut from the Federal Reserve. Stock indexes showed declines, and other news included updates on Elon Musk's pay package, GameStop's stock performance, and more in commodities and crypto markets.
Source: YAHOO