Market Midday: Stocks Mixed, Job Creation Cooled In June, Americans Pay Up For Beef 7/2/26

• Dow up 337 points (>0.5%), led by Apple (+4.5%), Walmart (almost +3%), and Boeing (almost +3%).
• S&P 500 down 24 points, Nasdaq down 276 points (1%), with chipmaker shares declining.
• June jobs report: 57,000 jobs created (half of expectations), May revised down from 172,000 to 129,000.
• Private sector jobs up 39,000, but retail down 7,500 and leisure & hospitality down 61,000 (Goldman Sachs expected +40,000).
• Unemployment rate ticked lower to 4.2% from 4.3%.
• Americans are paying record high prices for beef: ground beef at $6.75/lb (up 13% YoY), steak at $12.90/lb (up 16% YoY).
• EV maker Rivian reported strong Q2 demand and raised its full-year vehicle delivery outlook, while Ford's Q2 sales disappointed, dropping over 10% due to F-series pickup production issues.

CNBC reports mixed market performance following a disappointing June jobs report, which showed significantly fewer jobs created than expected and downward revisions for previous months. While the Dow saw gains led by Apple, Walmart, and Boeing, the S&P 500 and Nasdaq were down, with chipmaker shares broadly in the red. Economists expressed concerns about slow job growth and a 'tortoise of an economy.'