Market Rally: Stocks Climb Amid Mixed Economic Signals

On Friday, U.S. stock futures, the dollar, and Treasury yields rose in response to payrolls data that slightly surpassed economists' forecasts, alleviating some investor concerns over the recent economic weakness. The May job report indicated 139,000 new jobs, exceeding the consensus of 130,000 but still lower than April's revised figure of 147,000.

Brian Jacobsen, chief economist at Annex Wealth Management, commented, "On its face, this shows an economy holding up under the strain of a trade war, yet beneath the surface, there are signs of vulnerability." The U.S. dollar increased by 0.5% against a basket of currencies, with Nasdaq and S&P 500 futures each climbing approximately 0.8%.

Market speculation on a Federal Reserve rate cut in September decreased to 63% from the previous 76% following the data release. U.S. 10-year Treasury yields experienced an uptick, rising by 7.7 basis points to reach 4.472%. Meanwhile, Tesla shares partially recovered in pre-market trading amid unresolved tensions between President Donald Trump and Elon Musk, with reports of a potential resolution fading.

(With inputs from agencies.)