Mixed Signals: Stocks Dip as Job Market Cools, Restaurant Hires Decline

Stocks seesawed and ended lower on Friday after the release of the monthly US jobs report, which showed employers adding 209,000 jobs in June, below expectations but still indicating a healthy pace of employment growth. The unemployment rate dipped to 3.6%. The data has reinforced bets that the Federal Reserve is set to raise interest rates again at its July meeting. Construction jobs continued to grow, while Levi Strauss cut its full-year guidance due to concerns around consumer spending. Rivian saw a surge in its stock price after a strong week, and investor focus will now shift to the latest reading of the consumer price index.