Finance

While broad indexes gained, the semiconductor industry faced significant selling pressure as investors locked in profits after a record-breaking first half of the year. Companies like Micron, Intel, and AMD saw notable declines, while software and cloud-focused entities like Meta and Microsoft remained resilient due to fresh revenue initiatives.

Bitcoin and Ethereum prices rose sharply on Thursday, with Bitcoin climbing above the $61,000 threshold. This upward movement was driven by the same weaker-than-expected payroll data that bolstered equities, as crypto traders reacted to the potential for a more dovish monetary policy from the Fed.

Bond yields declined across the curve on July 2, with the 10-year Treasury yield falling below 4.5% after the payroll miss. This retreat in yields, coupled with a weakening US dollar, reflects a market recalibration of the Federal Reserve's trajectory for the remainder of 2026.