Weekly Market Note

Week of June 29–July 2, 2026

July 2, 2026 Main Management Research

This week’s round-up of economic releases and market insights.

In summary

Nonfarm Payrolls missed forecasts, adding +57k, as the Participation Rate fell to 61.5% and the Unemployment Rate declined to 4.2%.
May JOLTS painted a picture of continued stability in the labor market. ADP Payrolls also showed continued steady gains, led once again by small firms.
Job Cut Announcements continue to outpace hires, with Artificial Intelligence now the biggest reason cited for job cuts.
The FHFA and Case-Shiller 20-City Home Price Indices both moderated in May but remain very elevated relative to history.
Construction Spending posted its 3rd straight monthly gain but is down -1.5% Y/Y. Factory Orders ex-Transports posted a 7th straight M/M increase and are now up +9.5% Y/Y.