The latest Nonfarm Payrolls (NFP) report was released on Friday, providing a mixed picture of the US economy. While the headline number missed expectations, the details showed continued growth in jobs and wages. However, the 10-year Treasury yield fell after the report, indicating investor caution amid mixed economic signals.

In other news, Europe took a step forward on Ukrainian security guarantees as the US appeared to stall. The European Union (EU) agreed to provide military assistance to Ukraine, while the US has been slow to provide concrete support. Meanwhile, President Trump continued his pressure campaign against European leaders over Russian oil purchases, and asked the US Supreme Court to overturn a ruling on trade tariffs.

In central bank news, the Federal Reserve (Fed) remained in focus as the US Senate held a hearing on Fed nominee Judy Shelby. The hearing came as Fed Vice Chairman Richard Clarida said it was appropriate to cut interest rates over time, and as the Justice Department issued subpoenas as part of its probe into Fed Governor Lael Brainard. Meanwhile, President Trump made a fresh plea for a ruling that would allow him to oust Fed economist Lisa Cook.

In trade news, Mexico weighed imposing tariffs on China and other nations without a trade deal, while the 10-year Treasury yield fell after weak private payrolls data. In automotive news, General Motors (GM) cut its bolt electric vehicle production plan as a tax credit loss loomed, and the Trump administration moved to ease rules for self-driving cars.

In technology news, Microsoft appeared set to dodge an EU fine with an offer to unbundle its Teams software, while Toyota recalled certain Toyota and Lexus vehicles. Finally, in regulatory news, the Trump administration moved to ease rules for self-driving cars, while the European Union (EU) issued new guidelines for the use of artificial intelligence (AI).

Overall, the mixed economic signals and ongoing geopolitical tensions continue to shape investor sentiment and influence financial markets. As always, stay tuned for the latest updates and analysis from our team of experts.