Weak Jobs Report Dampens Fed Rate-Hike Odds; S&P 500 Futures Rise (Live Coverage)

The June jobs report delivered two surprises with the unemployment rate unexpectedly falling even as hiring tumbled, but both reflected a labor market that suddenly looks a bit soft. Following the data, S&P 500 futures strengthened. The two-year Treasury yield, which is linked to the Fed interest-rate outlook, fell after an initial rise on the lower unemployment rate.