Bonds & Stocks
Wall Street’s historic weekly run is poised to come to a halt, with stocks and bonds falling after a solid jobs report added to speculation the Federal Reserve’s next interest-rate move will be a hike. The S&P 500 fell 0.6%. The yield on 10-year Treasuries advanced six basis points to 4.53%.
Economy
US job growth topped all forecasts in May and the unemployment rate held steady at 4.3%, offering the clearest sign yet that the labor market may be breaking out of a prolonged period of lackluster hiring. Nonfarm payrolls increased 172,000 last month after upward revisions to the prior two months, according to BLS data out Friday. That marked the strongest three-month advance in more than two years.
World
There was no sign of progress in ceasefire talks between the US and Iran after the worst burst of violence in weeks and as the Tehran-backed Hezbollah militia on Thursday rejected a US-brokered truce in Lebanon. President Donald Trump said ceasefire talks are in the “final” stages.