The U.S. labor market showed stronger-than-expected resilience in June, with nonfarm payrolls rising by 147,000, surpassing economist forecasts of 110,000. The figure also edged above May&rsquo;s revised 144,000, while April was revised upward to 158,000, according to data from the Bureau of Labor Statistics.
The biggest contributor to June&rsquo;s job gains was the government sector, which added 73,000 jobs, primarily from state and local hiring. While private sector hiring remained modest, the overall gains point to continued strength in a cooling yet stable labor market.
Markets reacted swiftly to the report. Traders significantly reduced expectations of a July interest rate cut, as the data weakens the case for immediate monetary easing. While inflation remains a concern, the Federal Reserve is likely to interpret this jobs data as a sign that the economy is not softening fast enough to justify urgent intervention.

Jobs Surpise

The U.S. government has lifted export restrictions on chip-design software to China, a move confirmed by leading semiconductor software providers Siemens, Synopsys, and Cadence. These firms, which dominate the global Electronic Design Automation (EDA) market, said they received formal notifications from the U.S. Department of Commerce reversing the licensing requirement imposed in May.
Siemens EDA, based in Oregon, confirmed it had &ldquo;restored full access&rdquo; to previously restricted tools and resumed sales and support to Chinese clients. Synopsys and Cadence echoed similar plans. The announcement follows months of tightened export controls that previously targeted high-end AI chips from Nvidia and AMD.
The reversal is seen as part of a broader easing of tech tensions between the U.S. and China, following signs of a developing trade truce and conditional cooperation on rare earths and advanced tech exchanges.

Chip Design Deal

BlackRock is reportedly in early talks to sell its minority stake in a Saudi Arabian gas pipeline venture, potentially back to Saudi Aramco, according to Bloomberg. The discussions are still preliminary, with no certainty of a finalized deal. If talks fail, BlackRock may explore other exit options.
The U.S. investment firm led a $15.5 billion consortium deal in 2021 to acquire a 49% stake in a company leasing rights to Aramco&rsquo;s gas pipeline infrastructure. At the time, it was one of the largest infrastructure investments in the Gulf, symbolizing strong institutional confidence in Saudi energy assets.
A repurchase by Aramco would reflect a shift in strategic priorities. As the company faces mounting debt and oil market headwinds, regaining control over critical energy infrastructure may be part of its long-term resilience plan. The potential move echoes similar developments in the UAE, where Lunate, a state-backed fund, recently acquired major pipeline holdings from BlackRock and KKR.

BlackRock Exit

Most forecasters expect June&rsquo;s U.S. jobs report to show 110K new jobs (down from 139K in May), and a headline unemployment rate ticking up to 4.3% a sign of moderating labor demand. Continued jobless claims rose, while wages tracked at ~3.9% growth year-over-year.

Jobs Slowdown

S&amp;P 500 futures rose ~0.13% and Dow futures gained 0.2% as markets await the June employment report. Investors are balancing optimism around cleared Fed stress tests with ongoing uncertainty over Trump&rsquo;s tariff deadline.

Futures Edge Up

Defensive healthcare names, including UnitedHealth, Amgen, and Merck helped lift the Dow, offsetting declines in tech such as Tesla (&ndash;5%). Analysts highlight renewed appetite for earmarked, reliable sector exposure.

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