Fed Chair Jerome Powell said that inflation risks have eased in recent weeks, strengthening confidence that inflation will return to the 2% goal. Following his remarks, short‑term U.S. Treasury yields fell and the market took a step back ahead of the upcoming non‑farm payroll report. U.S. equities showed mixed performance, with chip makers lagging while other sectors held up. Oil prices dropped, and options traders expect prices to revert to pre‑war volatility levels. Gold rose alongside a stronger dollar as investors reassessed expectations for future Fed rate moves. ADP data revealed that private‑sector employers added 98,000 jobs in June. Meanwhile, Bank of England Governor Andrew Bailey spoke cautiously about the UK economy, offering no signs of further rate hikes.