FX.co ★ US Stocks Waver Amid Decline in Private Payrolls

On Wednesday, the three major U.S. stock indices exhibited minor fluctuations as investors evaluated the latest labor market data. June's ADP report revealed an unexpected drop in private sector employment, though wage growth remained relatively stable. This data reinforces the possibility of Federal Reserve rate cuts, but also raises concerns about the labor market potentially cooling faster than expected. Investors are now focused on the official jobs report anticipated tomorrow. Simultaneously, traders kept an eye on trade negotiations, notably as President Trump intensified pressure on Japan. Presently, discussions regarding the new spending bill took center stage after narrowly passing the Senate and returning to the House for further review. In the corporate realm, Microsoft saw a decline of almost 0.6% in its shares following the announcement of 9,000 layoffs, affecting less than 4% of its overall workforce. Conversely, Tesla's shares rose nearly 3% due to Q2 deliveries surpassing expectations.