U.S. Jobs Report Miss: Payrolls Up 73K, Fed Cut Bets Rise, Bitcoin Reacts

Key Points

1. U.S. added 73,000 jobs in July, missing the 110,000 forecast, with unemployment rising to 4.2% and prior months' job figures revised downward by 258,000.

2. Private sector payrolls increased by 83,000, while government employment declined by 10,000, with healthcare and social assistance being the primary job growth driver.

3. Average hourly earnings rose by 0.3% in July and 3.9% year-over-year, with the average workweek lengthening to 34.3 hours.

4. Markets reacted with the S&P 500 falling 1.2%, Treasury yields dropping, and Fed rate cut odds for September rising to 67%.

5. Bitcoin slipped below its 50-period EMA to $115,343, struggling to gain upward momentum despite dovish rate cut expectations.