For months, investors worried that a resilient U.S. labour market could keep inflationary pressures elevated and force the Federal Reserve to maintain a hawkish stance. However, a weaker-than-expected June jobs report has eased those concerns, providing support to equity markets, particularly technology stocks that have led this year's rally, Reuters reported.
According to a Reuters report, U.S. job growth slowed more than expected in June, while payroll figures for the previous two months were revised lower. Data released by the U.S. Labor Department on Thursday pointed to a cooling, yet still stable, labour market, prompting investors to scale back expectations of a near-term interest rate hike by the Federal Reserve.
