Finance

The Institute for Supply Management reported that the U.S. services sector continued to grow in June, albeit at a slightly slower pace with a PMI reading of 54.0. While this was marginally below economist expectations, the report highlighted the first expansion in the employment component in four months. Market participants are monitoring these figures alongside weak June nonfarm payroll data to gauge the health of the broader economy beyond the technology sector.

Digital assets experienced a decline on Monday following a brief weekend rally that saw Bitcoin surpass the $63,000 mark. Bitcoin retreated toward $61,600 as traders assessed whether recent liquidations of short positions would lead to a durable trend or merely a temporary price squeeze. Other major tokens like Ethereum also moved lower, trading around $1,737 as institutional flows remained inconsistent following a weak performance in June.

U.S. Treasury yields remained mixed as investors recalibrated their outlook for Federal Reserve monetary policy following recent labor market data. The 10-year yield held near 4.46%, while the U.S. dollar index edged up slightly to approximately 101.01. Market participants are now focused on the upcoming release of the Federal Open Market Committee minutes for further clues on whether the central bank will maintain its current interest rate path.