U.S. job growth accelerated in May, but a surge in the unemployment rate to a seven-month high of 3.7% suggested that labor market conditions were easing, which could give the Federal Reserve cover to skip an interest rate hike this month.
- WorldUS debt ceiling deal strands $16 billion of defense side-projects
A $16 billion list of lower-priority defense items like tanks, helicopter upgrades and a ship, that would normally be paid for as part of the defense budget, could go unfunded after the U.S. passed a landmark bill that lifts the debt ceiling but curbs federal spending.
- MarketsWall Street ends up on jobs data, debt default averted
The tech-heavy Nasdaq marked its best winning streak since January 2020.
- WorldSpain's Catholic Church finds hundreds of alleged child abusers over eight decades
Nearly all the alleged perpetrators were male and half of the abusers were clerics, a report said. Most of the recorded cases happened in the 1960s-1980s.
