WS #9065

The dominant signal in this window is the stronger-than-expected May jobs report (172K vs expectations), which dampens hopes for a Fed rate cut and pushes markets lower. This is corroborated by multiple sources (NPR, Seeking Alpha, Alpaca, Bloomberg). The report shows upward revisions to prior months and steady unemployment at 4.3%, reinforcing a 'higher for longer' rate narrative. Separately, a major ISS air leak has triggered evacuation orders for astronauts, a rare event that could impact space-related sentiment but has limited direct market implications. On the MAG7 front, JPMorgan flipped bullish on Tesla (TSLA) with a new $475 price target, a significant counter to the broader tech selloff narrative. OPEC crude output fell to multi-decade lows due to the US-Iran blockade, supporting oil prices. Bitcoin sentiment hits COVID-era lows, but CME launched Bitcoin Volatility futures, a potential catalyst for institutional adoption.