U.S. stocks once again reached all-time highs in the shortened trading week due to the Independence Day holiday, as the latest economic data bolstered investor confidence that the Federal Reserve may soon begin cutting interest rates. The U.S. job market showed a better-than-expected increase in employment in June. Yet downward revisions for April and May, coupled with a slight, unexpected uptick in the unemployment rate and slower wage growth, indicate an overall cooling of conditions. An additional warning the U.S. economy might be entering a cooling phase came from the latest Institute for Supply Management Services Purchasing Managers Index, which contracted in June and plunged to its lowest level since May 2020. Technology and consumer discretionary stocks were the best-performing sectors of the week, driven ...