- US Bureau of Labor Statistics released May Job Openings and Labor Turnover reports, which showed 8.14 million job vacancies, exceeding forecasts and April’s 7.919 million, the lowest level in three years.
- US business activity in the manufacturing sector showed mixed results. Traders are now focusing on the upcoming release of service sector data on Wednesday.
- According to the CME FedWatch Tool, odds for a 25-basis-point Fed rate cut in September are at 63%, up from 58% on Monday.
- December 2024 fed funds rate futures contract implies that the Fed will ease policy by just 36 basis points (bps) toward the end of the year
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