US stock market today: Wall street edge up & yields spike; S&P 500 hits fresh record after job data
The S&P 500 rose 0.3%, continuing its record-breaking run, while the Nasdaq Composite gained 0.5%. The Dow Jones Industrial Average added 88 points. The bond market saw a sharper reaction, with Treasury yields jumping after traders dialled back bets on an imminent rate cut by the Federal Reserve, AP reported.
The market rally came after the latest US jobs report showed surprising strength in the labour market. The data prompted investors to reassess the likelihood of a July rate cut, which many had priced in before the release.
Earlier in the day, US stock futures were flat ahead of the report, as Wall Street awaited fresh cues on employment. Economists had forecast that unemployment could tick up to 4.3% in June — the highest since October 2021 — amid headwinds from President Donald Trump's trade tariffs, hiring freezes, and immigration policies.
Also Read |
US labour market data: Jobless claims drop to 233,000 as layoffs stay low; total unemployment rolls hold near 2 million
While the job market remains historically strong, there are signs of strain. Many employers are grappling with the impact of tariffs, which raise costs and reduce competitiveness.
Several of Trump's proposed import taxes are currently paused but set to take effect next week, potentially affecting hiring and inflation further unless trade deals are struck.
In global markets, Europe saw modest gains, with Germany's DAX and France's CAC 40 each adding 0.1%, and Britain's FTSE 100 rising 0.4%.
Asian markets posted mixed results. Japan's Nikkei 225 rose 0.1% to 39,785.90, while South Korea's Kospi gained 1.3%.
Hong Kong's Hang Seng slipped 0.6%, and Australia's ASX 200 edged down 0.1%. Taiwan's TAIEX added 1.3%, India's Sensex rose 0.2%, and Vietnam's VN Index slipped 0.2%.
In commodities, US crude fell 14 cents to $67.31, while Brent dropped 21 cents to $68.90. In currency trade, the dollar strengthened to 143.85 yen from 143.65 yen. The euro inched up to $1.1793.
Markets in the US will remain closed on Friday for the July 4 holiday.
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Astrikos.ai Launches AI-Powered Data Center Intelligence Platform – S!aP Cognus
a leader in AI-driven infrastructure intelligence, is excited to announce the launch of its cutting-edge AI-Powered Data Center Intelligence Platform. This advanced solution is designed to transform data center operations by enabling predictive maintenance, real-time analytics, and enhanced operational efficiency. Leveraging AI and machine learning, the platform ensures higher uptime, reduced costs, and proactive issue resolution, making it a critical tool for modern data centers. The platform, named S!aP Cognus, brings together machine learning (ML), 3D modeling, and advanced analytics to optimize data center performance. With its scalable architecture, S!aP Cognus is capable of monitoring thousands of devices while providing predictive insights and real-time visibility into the most critical aspects of data center management. 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Mint
26 minutes ago
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ETFs are eating the world. The right—and wrong—ways to invest.
A few months ago, you needed big bucks to tap the opaque world of private credit. Not anymore—thanks to the magic of exchange-traded funds. Firms like Apollo Global Management have long dominated the private-credit space, traditionally requiring at least $250,000 or a high net worth to access its funds. But Apollo recently teamed up with State Street to launch the SPDR SSGA IG Public & Private Credit ETF. State Street, which is managing the fund, said it's 'democratizing access to private markets." Since it's an ETF, which trades like a stock, anyone with an account at, say, Robinhood or Fidelity can now buy a sliver of Apollo's $600 billion private-credit portfolio. Apollo is hardly the only firm using ETFs to drum up business. Wall Street has ETF fever. Firms are now packaging just about everything in the funds, including Bitcoin and other cryptocurrencies, leveraged bets on individual stocks like Nvidia, and even bonds that would pay out sharply if a natural catastrophe strikes. All of it has led to a Cambrian fund explosion. More than 4,000 ETFs are listed on the New York Stock Exchange—compared with just 2,400 individual stocks. Fund companies launched more than 700 ETFs last year, including 33 that track cryptocurrencies, more than 130 'buffered" ETFs, and dozens of ETFs that magnify bets on indexes like the S&P 500 or stocks like Nvidia and Palantir Technologies. Most of the new ETFs are small and nichey, holding less than $100 million in assets each, and dozens of ETFs shut down every year after failing to catch on. But the industry is still raking in assets. ETFs have taken in over $2 trillion of net inflows over the past two years, bringing total assets to nearly $11 trillion. They now hold one out of every three dollars invested in long-term funds, excluding money markets. Some of the money flowing into ETFs has come out of traditional open-end mutual funds, which have lost $1.2 trillion due to outflows in the past two years. While investors are flocking to ETFs for their tax efficiency and other advantages, ETFs are also tackling mutual funds where it really hurts: active management. More than $1 trillion now sits in active ETFs that trade stocks and other securities. Cathie Wood's ARK Innovation ETF is a prominent example. But there are now more than 1,300 active ETFs, including funds from big companies like T. Rowe Price Group, GMO, and JPMorgan Chase. Bond manager Pimco alone has amassed $31 billion in fixed-income ETFs. The deluge shows no signs of letting up. President Donald Trump and congressional Republicans are laying the groundwork to deregulate financial markets, make crypto mainstream—including stablecoins from companies like Circle Internet Group—and open the $12 trillion world of private equity and credit to the broader public. Hundreds of new ETFs are awaiting a go-ahead at the Securities and Exchange Commission, including around 70 new crypto ETFs and plenty of active stock-picking ones. The flood of ETFs raises questions for investors: Should you buy any of the new ones, stick with basic index funds, or use a mix? With so many products, there is a lot to learn, especially about novel funds that employ aggressive strategies or aim to expand the ETF empire to new frontiers. Here's how to get the most out of ETFs—and avoid the pitfalls. Launched in the early 1990s, ETFs were initially designed to track popular stock indexes like the S&P 500. The $600 billion SPDR S&P 500 Trust, launched in 1993, remains one of the largest ETFs, and most of the industry's assets are still concentrated in funds that track major indexes, sectors, and foreign markets. The top four ETF issuers—Vanguard, BlackRock's iShares, Invesco, and State Street—control $9 trillion in assets, staking a commanding lead over everyone else. Just below the giants is a long and growing tail of ETFs snaking through every market crevice. Investors who want exposure to oil, for instance, gravitate to the U.S. Oil Fund. The SPDR Gold Shares is the leading choice for the precious metal. In crypto, the iShares Bitcoin Trust ETF has become the biggest of the bunch, holding $75 billion in assets. Regardless of what they own, most ETFs owe their popularity to convenience, low costs, and tax efficiency. A big difference from mutual funds is intraday liquidity. You can buy or sell ETFs like a stock. Orders for mutual funds, by contrast, are priced once at the 4 p.m. market close. Liquidity is a big reason ETFs are so widely used by hedge funds, and it can be helpful if there's a big market move and you want to sell a position quickly. Crucially, most ETFs are more tax-efficient than mutual funds. While the details are complicated, ETF portfolio managers are rarely obliged to sell underlying shares of a stock or other asset. Instead, they continuously work with trading firms to swap holdings and shares as needed. Under normal market circumstances, the process keeps a fund's net asset value aligned with its holdings, avoiding the added complexity of closed-end funds, which often trade at wide discounts or premiums. These arcane details of ETFs have big tax consequences, since security swaps, unlike sales, don't register capital gains to a fund. That means ETF investors typically don't have capital-gains tax bills until they sell their shares, avoiding a big hassle (and expense) of traditional mutual funds, which have to distribute a portfolio's gains each year. ETFs can also be extremely low cost, though fees creep up for products using bespoke strategies. The average annual management ETF fee is below 0.16%, according to Morningstar, less than half the 0.4% average charged by mutual funds. Among active stock ETFs, fees average 0.42%, still well below the 0.57% average for active equity mutual funds. Firms launched more than 500 active ETFs last year, accounting for 70% of new launches and 25% of flows, according to research firm Trackinsight. Many of the new products involve niche strategies, such as buffered ETFs, which use options to give investors exposure to the stock market while capping gains and losses. Firms like Fidelity and T. Rowe Price have dabbled in active ETFs, but they remain quite small; T. Rowe Price Capital Appreciation Equity, the firm's largest ETF, with $4.6 billion in assets, hit the market in 2023. It was designed to build on the success of the storied T. Rowe Price Capital Appreciation mutual fund, which remains an order of magnitude larger, with $66 billion. Fund companies don't want to cannibalize their mutual funds with lower-cost ETFs. But they may be now be more inclined to launch copycats, thanks partly to an obscure patent expiration. Vanguard, which held the patent until 2023, no longer has a lock on creating ETFs by simply creating an additional share class of an existing fund. Nearly 60 fund firms have filed with the SEC to launch funds following Vanguard's approach, with approvals expected to start this year. 'There's no question the ETF share class structure will be a game-changer," says Nate Geraci, an investment advisor and president of the ETF Store. Whether to own an active ETF comes down to the same issues that plague mutual funds: The vast majority underperform their benchmarks long term, and finding consistent winners is devilishly hard. Consider the rise and fall of Wood's ARK Innovation ETF, known by its ticker, ARKK. Soaring more than 150% in 2020, the fund raked in assets, reaching a peak of $28 billion. But as money flowed in, Wood gravitated to larger-cap stocks and performance fizzled; the fund lost 75% of its value in 2021 and 2022 and has underperformed the Nasdaq Composite by more than 100 percentage points over the past five years. While the Nasdaq's five-year cumulative return is 108%, ARKK's is minus 2%. ARK Investment Management President Tom Staudt says changes in the fund's composition were the result of mergers in tech and gains for ARKK's holdings. Beyond stock ETFs, the rest of the industry's assets sit in everything from bonds and commodities to crypto and other alternatives. Bond ETFs now hold nearly $2 trillion in assets. The biggest ones—Vanguard Total Bond Market and iShares Core U.S. Aggregate Bond—track the U.S. market, holding Treasuries and other U.S. government bonds, along with investment-grade corporate debt. They can be solid core holdings for investors who use bonds to diversify their portfolio. Fixed-income ETFs also delve into everything from high-yield 'junk" to preferred securities and municipal bonds. Several of them have a long record of beating indexes. Top performers from Pimco, for instance, include Pimco Active Bond and Intermediate Municipal Bond Active. One can also find solid ETFs for Treasury inflation-protected securities, such as JPMorgan Inflation Managed Bond, and in high yield with the VanEck Fallen Angel High Yield Bond. Granted, bond ETFs can have structural flaws. Many individual bonds trade infrequently, especially outside highly liquid Treasury markets. As a result, the ETFs, which may own thousands of securities, rely on mathematical models to estimate their underlying value in real time. In times of market stress, ETF share prices and theoretical values have diverged. In March 2020, during the early days of Covid, the $30 billion iShares iBoxx $ Investment Grade Corporate Bond ETF closed more than 5% below the estimated value of its portfolio during the trading day. If something like that happens again, it's best to wait until the market stabilizes—which usually happens quickly—before buying or selling, says Aniket Ullal, head of ETF Research at CFRA. 'The models can be a little bit stale," he says, and share prices will eventually converge to underlying holdings. Similar issues arise in ETFs aiming to track commodities, crypto, and other alternatives, as their markets aren't always liquid or transparent and ETF companies use workarounds. Commodity ETFs, for instance, generally hold futures contracts to track things like oil and copper. In most cases, futures substitute for the real thing because it isn't practical to own, say, millions of bushels of corn. Commodity futures are imperfect, though. Because prices for oil futures often drift above or below spot prices, the USO Oil Fund's returns frequently deviate from oil spot price returns. In 2020, Covid-fueled dislocations led near-month oil futures to briefly trade at negative prices. USO lost 75% of its value in the first five months of that year. USO experienced a 'black swan event" in 2020, says Katie Rooney, chief marketing officer at USCF Investments, the fund's sponsor. 'Nevertheless, we made an extra effort to communicate with investors at the time, and USO continued to meet its investment objective." One way around the futures problem is for a fund to be structured like a trust and take ownership of the commodity. While it doesn't work for commodities like oil or copper, it does for gold. The $101 billion SPDR Gold Shares owns gold bars sitting in a vault, and the ETF's price directly corresponds to the value of the bullion. Crypto is a new and untested class of ETFs. The first wave used futures and other derivatives to track Bitcoin, but the SEC in 2024 allowed ETFs to track spot prices and own tokens directly in digital vaults, creating Bitcoin 'trusts." If you're going to invest, stick with the largest and most liquid ETFs backed by blue-chip firms. That would include the iShares Bitcoin Trust and the Fidelity Wise Origin Bitcoin fund. Crypto ETFs are rapidly moving beyond Bitcoin. The second-largest token, Ethereum, now has 20 ETFs tracking its moves, including funds like iShares Ethereum Trust and Grayscale Ethereum Mini Trust. More crypto ETFs are seeking approval from the SEC, tracking tokens like Litecoin, XRP, and Solana, as well as more playful ideas like Dogecoin, Bonkcoin, and even President Trump's personal meme coin. Not all of these will see the light of day, but a Trump-backed SEC is expected to be far more amenable than the agency was under President Joe Biden's SEC chair, Gary Gensler. 'I think you'll sense SEC staff trying to work with the ETF industry to facilitate new types of products, to facilitate innovation," says Brian Murphy, a former SEC attorney and partner at Stradley Ronon. Private assets are also showing up in ETF wrappers, including venture-backed companies that have yet to go public. The ERShares Private-Public Crossover ETF, for example, has nearly 10% of its assets in Elon Musk's SpaceX, along with stakes in private companies such as Klarna and Anduril. Bear in mind that these ETFs provide watered-down access to private securities. Industry rules limit ETFs to holding 15% in private, illiquid assets, and the funds tend to be padded with publicly traded stocks or other securities. The ERShares ETF has more than 80% of its assets in familiar Big Tech names like Nvidia, Oracle, and Meta Platforms. One risk: Private assets are opaque and their values are based on educated guesses rather than broad market price discovery. The ERShares ETF's website pegs SpaceX's value at $185 a share, the same as in December, despite a public feud between Musk and Trump, which hit Musk's other big company, Tesla, hard. The ETF's stakes in SpaceX and other private holdings are also held in a special-purpose vehicle, which charges fees that aren't disclosed to investors. 'We will price SpaceX or Klarna up or down when there is clear evidence the price has changed" or when a 'consensus" price event such as a tender offer emerges, says fund manager Joel Shulman. Whether ETFs can be jury-rigged for private investments is debatable. And investors are taking a leap of faith about how they might trade in a crisis. The SPDR SSGA IG Public & Private Credit ETF has a contract with Apollo as a trading partner, guaranteeing that the ETF will always have at least one place to buy and sell. Whether Apollo would buy back the ETF's assets at full price or a deep discount in a crisis situation isn't known. 'As much as I champion ETFs, not every asset class belongs in an ETF, and I would suggest private credit might fit into that category," says Geraci. Few ETFs are riskier than those using leverage (or borrowed money) to magnify price movements in indexes or individual stocks. Not only is there more daily volatility, but investors won't come close to the returns of a double- or triple-digit move in a stock or index long term. Consider the recent performance of ProShares ETFs designed to magnify bullish and bearish bets on the Nasdaq 100. The UltraPro QQQ is designed to triple the index's daily return, rising 3% on a day when Nasdaq 100 is up 1%. The UltraPro Short QQQ aims to deliver the reverse, rising 3% when the index falls 1%. The Nasdaq 100 has managed to deliver a 8.4% total return year to date. The ProShares 3x long ETF is up 5.5% and the 3x short ETF is down 35.5%. What gives? The funds are designed for single-day movements, and beyond that, all bets are off. A phenomenon known as 'volatility drag" tends to kill their returns over longer periods, especially in rocky markets. ProShares declined to comment. Such complexity has earned leveraged ETFs a bevy of critics. 'I don't think anyone should own them," says Bryan Armour, Morningstar's director of ETF and passive strategies research for North America. As a group, the funds now hold nearly $120 billion in assets, and leveraged ETFs have expanded to single stocks, including eight ETFs pegged to Nvidia alone. Steer clear unless you're a trader with a strong stomach. While the ETF world includes some wild beasts, the place to start is with low-cost index funds as the core of your portfolio. The Vanguard Total World Stock ETF, for instance, owns a portfolio of U.S., developed country, and emerging market stocks for an annual fee of just 0.06%. The Vanguard Total World Bond ETF offers a similar play on fixed income. Using them in combination can give you a full slate of U.S. and international stocks and bonds in just two funds. Investors who want to go deeper can check out the Select Sector SPDR ETFs that break the S&P 500 into 11 industries, including tech and energy. If you are more interested in dividends, take a look at the Schwab US Dividend Equity ETF or, for a slightly different take, ProShares S&P 500 Dividend Aristocrats, which targets companies that have paid and raised dividends for the past 25 years. When shopping for ETFs, follow some simple rules, says Herb Morgan, chief investment officer of Cantor Fitzgerald Managed ETF Portfolios. Stick with funds that track liquid assets and use established index funds, not 'gimmicky" ETFs developed to sell a product. While newer funds boast back-tested performance that might look good, he notes, investors shouldn't expect it to last, given the long history of most funds falling behind major indexes. The oldest and simplest advice is still the best: 'All things being equal, go for the low price," Morgan says. Write to Ian Salisbury at
The Wire
28 minutes ago
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Astrikos.ai Launches AI-Powered Data Center Intelligence Platform – S!aP Cognus
Bengaluru, Karnataka, India (NewsVoir) a leader in AI-driven infrastructure intelligence, is excited to announce the launch of its cutting-edge AI-Powered Data Center Intelligence Platform. This advanced solution is designed to transform data center operations by enabling predictive maintenance, real-time analytics, and enhanced operational efficiency. Leveraging AI and machine learning, the platform ensures higher uptime, reduced costs, and proactive issue resolution, making it a critical tool for modern data centers. The platform, named S!aP Cognus, brings together machine learning (ML), 3D modeling, and advanced analytics to optimize data center performance. With its scalable architecture, S!aP Cognus is capable of monitoring thousands of devices while providing predictive insights and real-time visibility into the most critical aspects of data center management. Key Features of the Platform: • AI-Powered Predictive Maintenance: Utilizes machine learning models to predict failures in vital systems such as UPS, HVAC, and battery banks, significantly reducing unplanned outages. • KPI Engine Compliant with ISO/IEC Standards: Tracks energy efficiency and operational performance according to recognized benchmarks like Power Usage Effectiveness (PUE), Water Usage Effectiveness (WUE), and Energy Reuse Effectiveness (ERE), aligning with global sustainability and compliance mandates. • Real-Time 3D Visualizations: Offers a dynamic digital twin of data centers, helping operators identify issues, simulate potential failures, and monitor live conditions. • Modular & OEM-Agnostic Architecture: Supports a wide range of protocols (e.g., Modbus, SNMP, BACnet) and integrates with popular hardware from Schneider, Siemens, APC, and others, reducing deployment friction. • Role-Based Dashboards: Delivers tailored dashboards for various stakeholders including Data Center Managers, Sustainability Officers, and Finance Teams to support informed decision-making. • Low-Code ML Model Builder: Provides an intuitive interface to design and deploy custom Machine Learning models for specific data center needs without requiring advanced coding expertise. "With the exponential growth of data and cloud infrastructure, enterprises need intelligent, AI-driven platforms that go beyond traditional monitoring," said Chinmay Hegde, CEO & Managing Director of "Our new Data Center Intelligence Platform empowers operators with real-time insights, predictive analytics, and automation to significantly improve efficiency, reduce downtime, and enhance overall sustainability." Chandrashekar SK, CTO of added, "Traditional data center management is reactive, leading to inefficiencies and unexpected failures. S!aP brings a proactive approach, enabling AI-powered predictive maintenance, interactive 3D modeling, and seamless third-party integrations to transform how data centers operate in the digital age." S!aP Cognus platform is designed to deliver energy efficiency, reliability, and sustainability in data center operations. By leveraging AI and machine learning, the platform enables trend analysis, scenario planning, and infrastructure optimization, facilitating strategic decisions that enhance operational agility and resilience. The S!aP platform has already been implemented successfully across several high-profile projects, including Uttar Pradesh's UP 112, the world's largest Next-Gen Emergency Response Support System (ERSS). The platform also played a pivotal role in the 2025 Prayagraj Kumbh Mela, supporting critical emergency response efforts. And also, 29 pilot projects which includes 10 smart cities, 3 data centers across 4 geographies. "With the increasing demands on data centers to deliver continuous uptime and meet sustainability goals, S!aP Cognus is a game-changer," said Suresh Bulusu, Director of Sales of "This platform not only provides predictive insights and operational intelligence but also empowers our clients with actionable data that drives smarter decisions, lower costs, and enhanced performance across their data center ecosystems." The platform represents a significant advancement in intelligent infrastructure management, contributing to energy savings and sustainability goals while ensuring operational resilience through AI-driven analytics. To know more about the product, visit Astrikos S!aP Cognus or contact us at: connect@ About Founded in 2017 by a team of seasoned professionals, led by Dr. Chinmay Hegde, an innovator, technologist, and thought leader in space, is a pioneer in building advanced AI and ML platforms that are revolutionizing key infrastructure sectors with a key focus on leveraging Urban Analytics. As a centralized intelligence platform, heralds a new era of sophisticated solutions designed to propel sustainable and forward-thinking operational strategies. By leveraging the platform, organizations can experience up to a 30% increase in revenue growth, a 10%-30% increase in planning efficiency, and a 10%-30% reduction in expenses. Intelligence Platform is implemented in the ambitious Uttar Pradesh's UP 112, the world's largest Next-Gen Emergency Response Support System (ERSS). The Platform also played a crucial role in supporting emergency response efforts during the 2025 Prayagraj Kumbh Mela or the Maha Kumbh. Being a "Make in India platform for the Globe", Astrikos AI has spread their wings across Pan-India, Middle East and North Africa, ASEAN and North Americas. (Disclaimer: The above press release comes to you under an arrangement with Newsvoir and PTI takes no editorial responsibility for the same.).
