Finance

The Institute for Supply Management reported that the U.S. services sector continued to grow in June with a reading of 54.0, meeting analyst expectations. While the pace of expansion was marginally slower than in May, internal metrics showed the first employment growth in four months and a notable decrease in the prices index, suggesting a potential easing of inflationary pressures in the sector.

Longer-dated U.S. Treasury yields moved upward on Monday, with the 30-year yield rising to 4.993%, marking its highest level since mid-June. Market participants are closely monitoring the fixed-income market ahead of the release of the latest FOMC meeting minutes, which are expected to provide insights into future interest rate paths under the new Federal Reserve leadership.

The price of Bitcoin hovered around $61,600 on July 6, retreating after a brief weekend climb above $63,000. Sentiment was impacted by news that the firm Strategy sold approximately $216 million worth of the asset last week to fund dividends, adding to broader pressure on the digital asset market which has seen significant declines over the past year.