June Payrolls Miss 114K Estimate, Jobless Rate Dips to 4.2%

Nonfarm payrolls rose by 57,000 in June. That missed the 114,000 consensus estimate and marked a sharp drop from the 129,000 jobs added in May.

The unemployment rate fell to 4.2% from 4.3% in May. The labor force participation rate slipped to 61.5%, weaker than the 61.8% consensus and the 61.8% rate in May. Some workers stopped looking for work.

Average hourly earnings rose 0.3% month over month in June, in line with consensus and matching May's pace. On a year-over-year basis, earnings increased 3.5%.

BlackRock chief investment officer Rick Rider said the headline figure missed but "the trend continued to look solid and stable relative to the more volatile data from the early part of the year, and the weaker figures seen in late 2025." He added that AI spending may boost some employment figures in the short run but "holds the potential to limit employment in the most AI-sensitive sectors longer term."

Memory-chip stocks fell again after South Korea's Kospi Index slumped about 8%. SK Hynix (HXSCL) dropped nearly 15%. Samsung Electronics (SSNLF) tumbled around 9%. Micron Technology (MU), Sandisk (SNDK) and Western Digital (WDC) all came under pressure. WDC carries an Alpha Score of 71/100, labeled Moderate, on its stock page.

Apple (AAPL) is planning an ambitious iPhone launch for the second half of this year and the first half of 2027. The company expects at least five new models and a larger volume of folding handsets than previously anticipated. Apple's Alpha Score is 49/100, labeled Mixed, with the stock at $308.22, up 4.70% today. See the AAPL stock page.

Genuine Parts (GPC) surged after O'Reilly Automotive (ORLY) made a cash bid for its auto-parts division. The unit could be valued at $10 billion or more, according to a Bloomberg report. A potential sale could be announced by the end of the summer.

7-Eleven has sued Nike (NKE). The convenience store chain alleges the upcoming Air Max 95 sneaker infringes its trademark by using a stripe design that resembles 7-Eleven's orange, green and red branding. The lawsuit, filed in federal court in Texas, says the shoe is set for release on July 11, a date tied to 7-Eleven Day and the retailer's annual Free Slurpee Day promotion. 7-Eleven says it tried to resolve the dispute before filing suit. Nike's Alpha Score is 35/100, labeled Weak, on its stock page.

Renowned tech analyst Dan Ives is leaving Wedbush to launch a merchant bank that combines research, advisory, capital raising and investing. Ives said the venture "will change the way Wall Street looks at investment banks." He plans to continue covering technology stocks in a research capacity while building the broader business. Wedbush Fund Advisers will keep managing the Dan Ives AI Revolution ETF (IVES) and the Dan Ives Wedbush AI Power & Infrastructure ETF (IVEP).

Editor's Note: This article discusses one or more securities that do not trade on a major U.S. exchange. Please be aware of the risks associated with these stocks.