Finance

Treasury yields trended downward after the Labor Department reported that the domestic economy unexpectedly shed 23,000 nonfarm payroll jobs in July. The yield on the benchmark 10-year Treasury note pulled back to roughly 4.64%, while the short-term 2-year yield dropped below 4.20%, hitting its lowest mark in several weeks. Financial markets adjusted to the news by cutting the implied probability of a September central bank interest rate hike.

Collaboration software provider Atlassian experienced its largest-ever daily percentage gain, soaring over 35% after issuing a quarterly revenue forecast that topped Wall Street projections. Concurrently, Elon Musk's SpaceX witnessed a share price surge of nearly 16% following the expiration of initial public offering lockup restrictions. Corporate earnings updates overall continue to show strong resilience, with an overwhelming majority of reporting companies surpassing bottom-line expectations.

The digital asset landscape is experiencing a profound contraction, with over 100 protocols and projects closing down or filing for bankruptcy so far this year. This environment represents a transition away from purely speculative tokens toward sustainable business models that collect actual fee revenues. Meanwhile, major digital assets remained largely range-bound, with Bitcoin trading flat over the week in the mid-$64,000 corridor.