U.S. equities climbed higher, with the Nasdaq reaching a record thanks to semiconductor momentum and standout results from Broadcom. Labor data painted a weaker picture, with nonfarm payrolls rising by just 22,000 and unemployment edging up to 4.3%.

The bond market reflected these concerns, with the 10-year Treasury yield slipping to 4%, its lowest in five months. Revisions to U.S. employment figures from April 2024 through March 2025 could reveal as many as 800,000 fewer jobs, suggesting the Fed may be behind on its employment mandate. 

Gold broke to new records above $3,650 per ounce, supported by softer yields and a weaker dollar. Rising geopolitical tension added another layer of support after Washington threatened new sanctions on Russia following deadly strikes on Ukraine. 

Take a look at today's market analysis for more updates!