U.S. Added Just 57K Jobs in June, Far Below ~110K Expectations; Rate-Cut Bets Surge
- The BLS reported only 57,000 nonfarm payroll jobs added in June 2026 vs. economist estimates of ~110K–115K, with April/May revisions cutting another 74K from prior tallies; the unemployment rate edged down to 4.2% (per Reuters/Bloomberg wraps).
- The 'lukewarm' print drove a sharp drop in Fed hike odds — markets now price the FOMC as likely to stay on hold — which propelled the S&P 500's best week since May and record highs in the STOXX 600.
- Forward-looking focus pivots to Chair Warsh's Sintra message reinforcing 2% inflation resolve despite Trump calling the board 'a little bit hostile'; investors await Q2 earnings for confirmation the cooling labor market is benign.