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Dow Hits Record High Even as US Jobs Growth Crashes to 57,000 — Markets and Reality Diverge
MarketWatch·Friday, 3 July 2026
The Dow Jones Industrial Average hit a fresh record closing high on Thursday even as the US economy added just 57,000 jobs in June, far below what economists had forecast. The weak jobs number pushed odds of a September Fed rate hike down to just over 50%, according to CME FedWatch. The S&P 500 ended flat while the Nasdaq fell 0.8%.
Why It Matters
A weak US jobs market lowers the chance of rate hikes, which is good for stock prices — that's why the Dow went up even on bad news. Understanding this logic helps anyone watching global markets.
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