S&P 500 Nasdaq Reach New Highs on Strong Jobs Report 4.1% Unemployment Rate

Global equity markets experienced a surge today, driven by a robust U.S. jobs report and heightened speculation in the cryptocurrency sector. The S&P 500 and Nasdaq Composite Index reached new all-time highs, reflecting strong investor confidence despite ongoing geopolitical tensions. The unemployment rate dipped to 4.1%, and nonfarm payrolls rose by 147,000, exceeding expectations and reducing the likelihood of an imminent Federal Reserve rate cut. This positive economic data overshadowed concerns about trade negotiations and geopolitical risks, including the ongoing situation in Ukraine and President Trump's tariff strategy.

In the cryptocurrency market, several tokens saw significant gains. Moo Deng (MOODENG) surged nearly 32% following its listing on Upbit with KRW, BTC, and USDT pairs. This listing drove a 1,113% volume explosion to $560 million, bolstered by a broader 9.3% rise in the Solana meme coin sector. Technical indicators confirmed bullish momentum, with the token breaking key Fibonacci resistance and the MACD turning positive. Vitalik Buterin's nod to MOODENG's "significant community interest" added further credibility to the meme coin.

Bonk (BONK) also rallied, increasing by 16% on speculation surrounding Tuttle Capital’s 2x BONK ETF filing. The meme sector rotated upward, with BONK outperforming other major meme coins like DOGE and SHIB. Technicals looked bullish with a breakout above $0.0000144, an RSI at 63.33, and a positive MACD. The high 48% volume/market cap ratio suggested heavy trader interest and short-term momentum.

Sui (SUI) broke its 6-week downtrend after news of its inclusion in the Grayscale ETF, rallying above the psychological $3 level. A 165% jump in trading volume reinforced buyer conviction, while an RSI at 68.6 reflected strong short-term momentum. Open Interest jumped 19% in a day, and June’s $27.3 billion network volume pointed to solid on-chain usage and ecosystem growth.

Hyperliquid (HYPE) saw a high-profile $8.77 million whale buy, pushing the token to test resistance near $41–42. Hyperliquid also leads the perpetuals market, handling 75% of decentralized perps volume ($220 billion in 30 days). Indicators were turning bullish again, with an RSI at 56.85, MACD nearing a crossover, and the price well above its 20-day SMA. New upgrades like HIP-3 and CoreWriter could expand utility.

Wormhole (W) struggled despite a Coinbase listing, slipping 0.72% as bearish momentum took hold. Technicals were weak, with the token breaking below a rising wedge and 88% of circulating supply being whale-controlled, creating selloff risks. 92% of addresses were underwater, and influencer offloading worsened sentiment. The MACD turned negative, and the token could retest $0.066 soon.

Despite the positive market sentiment, geopolitical tensions and trade negotiations remain a concern. The U.S. paused some weapons shipments to Kyiv, triggering backlash from allies and drawing sharp criticism. President Trump is scheduled to speak with Putin, further raising stakes in the fourth year of the war. European equities opened higher, and the dollar strengthened against the euro and pound. However, uncertainty lingers, especially in emerging markets, as trade negotiations heat up globally.

In summary, the market mood is a blend of bullish speculation and institutional tailwinds. The S&P 500 and Nasdaq's new highs reflect strong investor confidence, while the cryptocurrency sector saw significant gains in meme coins and Layer-1 tokens. However, the weakness of Wormhole serves as a cautionary signal, highlighting the importance of liquidity, narrative, and volume in this market. Investors remain optimistic, but the outlook remains fragile in geopolitics.