Finance

U.S. Treasury yields drifted lower as investors recalibrated interest rate expectations following a softer-than-expected June jobs report. The 10-year Treasury yield eased to approximately 4.47%, reflecting growing market conviction that the labor market is entering a stabilization phase ahead of upcoming Federal Reserve policy minutes.

Oil prices experienced downward pressure after OPEC+ members announced a scheduled increase in production for August. Brent crude fell to roughly $72 per barrel, nearing price levels seen before geopolitical tensions earlier in the year, as the market anticipates a monthly rise in global supply.

The Institute for Supply Management's non-manufacturing index matched economist expectations for June, indicating continued expansion in the service sector. While some businesses reported lower fuel prices helping to ease inflationary pressures, overall factory orders for manufactured goods saw a slight decline of 1.3%.