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US Equity Markets Mixed, US Dollar Near 3-Year Low as Investors Assess Labor Market
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US Equity Markets Mixed, US Dollar Near 3-Year Low as Investors Assess Labor Market
Jul 2, 2025 1:43 PM

04:18 PM EDT, 07/02/2025 (MT Newswires) -- US benchmark equity indexes ended mixed Wednesday, and the dollar held near the lowest in three years as investors weighed labor market data and a new US-Vietnam trade agreement.

* Automatic Data Processing's data showed private payrolls fell by 33,000 jobs in June, missing forecasts for a 98,000 gain; May's increase was revised down to 29,000. Chief economist Nela Richardson said that companies are slow to hire or replace staff, yet wage growth remains steady.

Challenger, Gray & Christmas reported that employers announced 47,999 layoffs in June, roughly half May's total and little changed from a year earlier. Most firms blamed broad economic pressures, with a smaller share citing tariff-related cuts.

* President Donald Trump reached a trade deal with Vietnam that includes a 20% tariff on its exports to the US and 40% on transshipped goods. Trump said the agreement gives the US full access to Vietnamese markets with zero tariffs on American exports.

* August West Texas Intermediate crude oil closed up $1.76 to settle at $67.21 per barrel, while August Brent crude, the global benchmark, was last seen higher $1.78 to $68.89.

* Shares of Coinbase (COIN) shares rose 5.7%, MicroStrategy ( MSTR ) gained 7.7%, and MARA Holdings ( MARA ) jumped 13% after the Wall Street Journal reported that Ripple, a blockchain-based financial technology company, applied for a national banking license with the US Office of the Comptroller of the Currency.

* Centene ( CNC ) shares slumped 40% a day after the company withdrew its full-year earnings forecast, pointing to lower-than-expected revenue in several states where it offers health insurance marketplace plans.

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