Labor force participation also remained near record lows, with 105.8 million Americans outside the workforce. Aging demographics and AI-driven hiring trends continued to weigh on recent graduates and younger workers.

The 10-year Treasury yield held near 4.6%, up 5 bps from the previous session, as higher oil prices renewed inflation concerns. US strikes on Iran entered a tenth day, while Houthi militants announced a Saudi maritime embargo. Markets now price a 55% chance of a September Fed rate hike, up from 51%.

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