Finance

May's nonfarm payrolls exceeded expectations with 172,000 jobs added, while unemployment remained steady at 4.3%. This economic resilience, paired with a 3.4% year-over-year increase in hourly wages, has led many traders to believe the Federal Reserve will maintain high interest rates or even consider a hike later this year.

Ongoing direct strikes between Israel and Iran have pushed WTI crude prices toward $95 per barrel. This instability has also influenced the bond market, with the 10-year Treasury yield climbing to 4.56% as investors react to the potential for sustained energy-driven inflation.

Bitcoin and Ethereum are showing signs of recovery after Bitcoin briefly dipped below $60,000 over the weekend for the first time since 2024. The recent crash, which saw over $1.6 billion in leveraged liquidations, was fueled by shifting investor preference toward AI assets and uncertainty regarding U.S. digital asset regulations.