Weak Jobs Report Eases Fed Hike Expectations, Markets Zoom
July 02,2026 10:56 AM EST
U.S. stocks rose on Thursday as investors reacted to a weaker-than-expected nonfarm payrolls report for June.
The Dow Jones Industrials rocketed 432.67 points to 52,737.91. The index hit a new all-time intraday high in the session.
The S&P 500 grew 36.14 points to 7,519.37.
The NASDAQ collected 40.41 points to 26,080.44.
Still, the major averages are on track to finish the holiday-shortened week with solid gains. The broad-based S&P 500 is pacing for a more than 2% gain, while the 30-stock Dow is readying for a jump of 1% and tech-heavy NASDAQ foresees gains of more than 3%.
Electric vehicle manufacturer Tesla reported better-than-expected vehicle deliveries for the second quarter.
Tesla delivered 480,126 vehicles, above expectations for 406,600. The figure is above the 384,000 deliveries that Tesla reported in the second quarter of 2025.
Shares of Tesla were higher premarket, rising by about 1%.
The June jobs report showed an increase of 57,000 last month, below the 115,000 jobs that economists polled by Dow Jones expected. The unemployment rate, however, dropped to 4.2%. Economists had forecast the rate to stay at 4.3%.
Prices for the 10-year Treasury withered, raising yields to 4.48% from Wednesday’s 4.45%. Treasury prices and yields move in opposite directions.
Oil prices ditched $1.04 to $67.54 U.S. a barrel.
Gold prices climbed $54.70 to $4,137.10 U.S. an ounce.
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