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Altona Rare Earths PLC (LSE:REE) has officially become a member of the German Federation of International Mining and Resources (FAB), marking a strategic move to expand its footprint across Europe. This affiliation is poised to open new doors for investment, funding, and strategic alliances, reinforcing the company’s presence in the continent’s critical minerals sector.

The partnership supports Altona’s broader mission to advance Europe’s autonomy in sourcing vital raw materials—resources essential for industries ranging from defense and advanced manufacturing to renewable energy. By joining FAB, Altona positions itself among a network of like-minded stakeholders focused on the responsible and sustainable development of key mineral assets.

About Altona Rare Earths

Altona Rare Earths is a UK-listed exploration and development company with a primary focus on critical minerals in Africa. Its portfolio includes rare earths, copper, and fluorspar projects, notably the Monte Muambe rare earths site in Mozambique, which is currently in the prefeasibility phase. The company is actively expanding its assets, including recent interests in the Sesana copper-silver project in Botswana, as part of its strategy to secure vital resources for the global energy transition.

U.S. markets finished sharply higher on Thursday, with the S&P 500 and Nasdaq Composite closing at new record highs, as a stronger-than-expected June jobs report boosted confidence in the economy’s resilience amid ongoing trade tensions and geopolitical shifts.

The Dow Jones Industrial Average surged 344.11 points, or 0.77%, to end at 44,828.53. The S&P 500 rose 0.83% to 6,279.35, while the Nasdaq Composite climbed 1.02% to finish at 20,601.10. Both the S&P and Nasdaq set new all-time closing highs.

The June employment report, released by the Bureau of Labor Statistics, showed the U.S. economy added 147,000 jobs, topping expectations for 110,000. May’s figure was also revised upward to 144,000. In another positive surprise, the unemployment rate fell to 4.1%, bucking forecasts for an increase to 4.3%.

The upbeat data sent Treasury yields higher and led investors to dial back expectations for a near-term Federal Reserve interest rate cut. According to the CME Group’s FedWatch tool, traders now see a 95% chance the Fed will hold rates steady at its next meeting.

“This report pretty much rules out a July rate cut, and raises real doubts about whether we’ll see any cuts this year,” said Jed Ellerbroek, portfolio manager at Argent Capital Management, speaking to CNBC.

The strong report followed a weaker private payrolls figure from ADP on Wednesday, which showed a drop of 33,000 jobs and briefly raised concerns about economic momentum. But Thursday’s government data helped ease those fears.

Investors are also watching for progress on the recently announced U.S.-Vietnam trade deal, as President Donald Trump approaches the early July deadline of his 90-day tariff pause. While markets trading near record highs are vulnerable to pullbacks—especially if trade talks turn sour—Ellerbroek believes the broader sentiment remains constructive.

“There’s no doubt some companies will feel the impact of tariffs, but the market seems ready to weather it,” he added.

Meanwhile, attention remains focused on Trump’s major tax bill, which cleared the Senate on Tuesday and was advanced by the House on Thursday, setting the stage for a final vote.

Thursday marked a shortened trading day, with the New York Stock Exchange and Nasdaq closing at 1 p.m. ET ahead of the Independence Day holiday. U.S. markets will be closed Friday in observance of the holiday.

For the week, all three major indexes finished in the green: the S&P 500 rose 1.7%, the Nasdaq added 1.6%, and the Dow led the way with a 2.3% gain.

Bitcoin (COIN:BTCUSD) extended its upward momentum on Thursday, rising above $110,000 amid growing optimism around U.S. trade negotiations. Despite the gains, traders remained cautious ahead of key U.S. economic data releases scheduled later in the day.

After trading in a range between $103,000 and $108,000 for several days, Bitcoin finally pushed past resistance on Wednesday. By 09:56 ET (13:56 GMT), it had gained 2.4% to trade at $110,530. The broader cryptocurrency market also benefited, boosted by improved risk sentiment following Wall Street’s record-setting rally in the S&P 500.

Trade Deals Boost Confidence

Bitcoin’s rally was supported by fresh developments in U.S. trade policy. The U.S. and Vietnam struck a trade agreement, marking Washington’s third deal before the July 9 deadline. Additionally, the U.S. relaxed export controls on semiconductor technology to China, part of a broader framework agreement reached last month.

These breakthroughs increased expectations for further trade agreements ahead of the deadline. While a pact with India appears imminent, talks with Japan and South Korea have faced challenges. Former President Trump reaffirmed he will not extend the tariff deadline, adding pressure to finalize deals soon.

Tax Bill and Labor Market Data in Focus

Market participants are closely watching a controversial tax bill set for a House vote Thursday. However, progress remains uncertain after reports of dissent among Republican lawmakers, threatening to delay passage.

Concerns center on the bill’s potential impact on U.S. debt levels and overall economic stability. At the same time, traders await June’s nonfarm payroll report, a critical indicator amid speculation the Federal Reserve could ease monetary policy if the labor market cools.

JPMorgan Lowers Stablecoin Growth Outlook

JPMorgan published a note forecasting stablecoins will reach a market size of $500 billion by 2028, significantly less than some optimistic estimates that project values in the trillions. The bank described such projections as “far too optimistic,” citing limited use of stablecoins for mainstream payments.

Although stablecoins have expanded beyond crypto trading into fintech and banking sectors, JPMorgan highlighted that only about 6% of demand—roughly $15 billion—is related to payment applications.

“The idea that stablecoins will replace traditional money for everyday use is still far from reality,” the report stated.

The stablecoin market currently stands at around $250 billion. While recent U.S. regulatory moves, such as the GENIUS Act, may provide clearer guidelines, JPMorgan remains cautious due to fragmented regulations, slow international adoption, and lack of compelling use cases outside crypto.

Other forecasts have been more bullish—Standard Chartered anticipates a $2 trillion stablecoin market by 2028, and Bernstein predicts growth up to $4 trillion within a decade.

JPMorgan also rejected comparisons to China’s digital yuan and mobile payment giants like Alipay and WeChat Pay, noting these are unlikely to serve as models for stablecoin expansion globally.

Altcoins Gain Ground Alongside Bitcoin

Other cryptocurrencies followed Bitcoin’s lead with notable gains. Ethereum surged over 7% to $2,632.81, XRP climbed 5.4% to $2.29, and Solana rose 3.6%. Cardano rebounded sharply, increasing nearly 8% after steep losses in June.

Meme coins also rallied, with Dogecoin up around 8% and $TRUMP gaining 4.4%.

BAE Systems (LSE:BA.) has been chosen by the Air Force Research Laboratory (AFRL) to further enhance its technology aimed at improving medical care for injured military personnel on the battlefield.

As part of the new Force Optimization through Rapid-prototyping, Gear Enhancements & Innovative Technology (FORGE-IT) initiative, BAE Systems will continue the development and deployment of the Battlefield Assisted Trauma Distributed Operations Kit (BATDOK®).

Originally created with support from BAE Systems, BATDOK® replaces traditional paper records by digitally capturing detailed injury and treatment information from the moment a service member is wounded until recovery.

The FORGE-IT program plans to upgrade BATDOK® by integrating remote patient monitoring features and adding AI-powered clinical decision support to enhance medical care delivered in combat zones.

“At BAE Systems, our mission is to safeguard those who defend us,” said Nathaniel Wiesner, Vice President and General Manager of Ground Systems & Services for BAE Systems Space & Mission Systems. “Projects like FORGE-IT strengthen the capabilities of our military personnel to provide critical, life-saving treatment under dangerous conditions, ensuring wounded soldiers receive prompt and effective care right where they are.”

Information collected by BATDOK® will feed into the Department of Defense’s Joint Operational Medicine Information Systems (JOMIS), a comprehensive platform that supports health care delivery for U.S. Armed Forces across deployed environments and domestic medical facilities.

This integration is designed to improve medical decision-making and ensure accurate, continuous documentation of service members’ injuries throughout their treatment process.

European equities saw broad gains on Thursday, buoyed by upbeat U.S. employment figures and positive geopolitical developments.

Investor confidence was further supported by the announcement of a new trade agreement between the United States and Vietnam, alongside news that the Trump administration is loosening export controls on China related to chip design software and ethane.

In terms of major indices, the U.K.’s FTSE 100 rose 0.6%, Germany’s DAX increased by 0.4%, and France’s CAC 40 edged up 0.2%.

The British pound and government bonds strengthened after Prime Minister Keir Starmer expressed strong support for Rachel Reeves to remain Chancellor through the next election cycle and beyond.

On the corporate front, German wind turbine producer Nordex SE gained momentum with the announcement of new contracts secured across the U.K., Belgium, and France.

Meanwhile, Murray Income Trust rose following an unexpected strategic review initiated by its board.

3i Infrastructure also saw its shares rise after reporting first-quarter total income that met market expectations.

Conversely, shares of Swiss pharma giant Novartis AG declined after revealing that its drug Cosentyx did not meet endpoints in a late-stage trial targeting vascular inflammation.

British luxury watch retailer Watches of Switzerland dropped after cautioning investors about margin pressures stemming from U.S. tariffs.

Wall Street appeared ready to open slightly higher on Thursday, with futures pointing to early gains fueled by a surprisingly strong June jobs report and renewed optimism around international trade.

Pre-market momentum gained traction after the U.S. Labor Department reported that non-farm payrolls grew by 147,000 last month, exceeding economist projections of 110,000. This figure also beat May’s revised tally of 144,000 jobs, which was previously estimated at 139,000.

The unemployment rate showed unexpected improvement, dipping to 4.1% from May’s 4.2%. Analysts had forecast a modest increase to 4.3%.

The upbeat labor data suggests resilience in the U.S. job market, but it could also complicate the Federal Reserve’s path toward cutting interest rates in the short term, which might dampen some investor enthusiasm.

With U.S. markets scheduled for an early close ahead of the Independence Day holiday, trading activity is expected to remain somewhat muted later in the session.

On Wednesday, major indexes closed mostly higher. The Nasdaq and S&P 500 bounced back from Tuesday’s dip and ended the day at new all-time highs. The Nasdaq rose 190.24 points, or 0.9%, to 20,393.13, while the S&P 500 added 29.41 points, or 0.5%, to 6,227.42. The Dow Jones Industrial Average slipped 10.52 points, a fractional decline that left it at 44,484.42.

The positive mood was boosted by news from former President Donald Trump, who announced a trade agreement with Vietnam via his Truth Social account. According to Trump, the agreement imposes “a 20 percent tariff on goods sent to the U.S. and a 40 percent tariff on any transshipping.”

He continued, “In return, Vietnam will do something that they have never done before, give the United States of America TOTAL ACCESS to their Markets for Trade.”

“In other words, they will ‘OPEN THEIR MARKET TO THE UNITED STATES,’ meaning that, we will be able to sell our product into Vietnam at ZERO Tariff,” Trump said.

This development helped counterbalance disappointing data from payroll company ADP, which revealed private-sector job losses in June. According to the report, U.S. businesses cut 33,000 jobs, compared to a downwardly revised gain of 29,000 in May. Forecasts had predicted an increase of 95,000 positions.

Despite that miss, sector-specific gains drove markets higher. Steel companies saw notable strength, pushing the NYSE Arca Steel Index up 4.3% to its highest close in seven months. Hardware stocks also surged, with the NYSE Arca Computer Hardware Index gaining 2.5%.

Meanwhile, energy, airline, and semiconductor shares posted solid gains, while utility and healthcare stocks lagged behind the broader rally.

U.S. stock futures showed modest gains Thursday ahead of the highly anticipated June nonfarm payrolls data. Meanwhile, investors were analyzing the initial trade agreement announced between the U.S. and Vietnam, as the White House pushes to secure bilateral deals ahead of the looming expiration of delayed reciprocal tariffs. In Washington, Republican leaders in the House are working to finalize President Donald Trump’s signature tax and spending legislation before the self-imposed July 4 deadline.

Futures move upward

By early Thursday morning, Dow futures were up by 39 points (0.1%), S&P 500 futures climbed 6 points (0.1%), and Nasdaq 100 futures gained 33 points (0.1%). This marks the final trading day before the U.S. market closes for the Independence Day holiday.

Wall Street’s main indexes mostly closed higher on Wednesday. Both the S&P 500 and Nasdaq Composite set new record highs, while the Dow remained flat but near its all-time peak. Investor confidence was buoyed by Trump’s announcement of a trade deal with Vietnam, a key supplier of goods like footwear and sports apparel. Tech giants such as Nvidia and Apple also saw their shares rise.

Markets initially reacted negatively to a surprise decline in private payrolls data released earlier in the week, but many interpreted this as increasing the chances the Federal Reserve will aggressively cut interest rates soon.

Focus on the June jobs report

The spotlight now shifts to Thursday’s official U.S. jobs report from the Bureau of Labor Statistics. Economists forecast an addition of 111,000 jobs in June, down from May’s 139,000, while the unemployment rate is expected to tick up slightly to 4.3%.

Wednesday’s ADP employment report suggested companies are hiring cautiously amid tariff-related uncertainty, with workers less willing to change jobs. However, the ADP numbers don’t always align with the official government data.

Fed officials, tasked with promoting maximum employment, will be closely watching these labor market trends, especially given concerns about tariffs’ impact on the broader economy. Fed Chair Jerome Powell has faced mounting pressure from President Trump to cut rates quickly but has signaled a measured approach, noting the Fed could reduce borrowing costs at upcoming policy meetings later this year.

Trump unveils Vietnam trade agreement

Stocks erased early losses Wednesday following Trump’s announcement of a new trade deal with Vietnam that sets a 20% tariff on imports from the Southeast Asian nation. Analysts noted this rate is lower than the harsher reciprocal tariffs Trump had proposed in April.

Shares of companies like Nike, which source products from Vietnam, rose on the news. The agreement also imposes a 40% tariff on “transshipping,” a tactic used to reroute Chinese goods through Vietnam to avoid U.S. tariffs. The White House sees this deal as a step forward in reining in such practices.

Although still preliminary and less comprehensive than usual trade agreements, the pact suggests progress by the Trump administration in securing new trade deals ahead of the planned reinstatement of reciprocal tariffs later this month. Trump has also struck similar trade pauses with China and the U.K. and hinted at potential talks with India.

U.S. eases chip export controls to China

In related trade news, the U.S. Commerce Department has lifted restrictions on exports of chip design software to China, according to statements from companies like Synopsys and Cadence Design Systems. Both firms’ shares surged following the announcement.

Synopsys confirmed the U.S. government had rescinded export limitations imposed in late May and that it was working to restore product access in China.

House Republicans race to pass Trump’s budget plan

Back in Washington, Republican leaders in the House of Representatives are scrambling to secure enough votes for a sweeping tax and spending package championed by Trump. The legislation aims to extend and expand 2017 tax cuts while increasing defense and border security funding.

However, some conservatives worry the bill would worsen the national debt and have criticized proposed Medicaid cuts. With narrow Republican majorities and unified Democratic opposition, leaders face a tight margin. Trump’s July 4 deadline adds urgency to the negotiations.

European stock markets edged higher on Thursday, buoyed by optimism over trade developments, though gains were somewhat restrained as investors awaited the release of the crucial U.S. monthly employment figures.

By 07:05 GMT, Germany’s DAX rose 0.4%, France’s CAC 40 added 0.3%, and the UK’s FTSE 100 climbed 0.5%.

Trade hopes lift sentiment after U.S. gains

European shares took cues from Wall Street’s strong performance overnight, where the S&P 500 and NASDAQ Composite both hit record levels. The positive mood was sparked by President Donald Trump’s announcement that a trade deal had been reached with Vietnam, though details remain limited.

This announcement has raised expectations that further agreements may be finalized ahead of the July 9 deadline. This follows the earlier trade deal with China, which led the Trump administration to ease restrictions on chip design software sales to China.

The European Commission, acting on behalf of the EU, is scheduled to hold discussions with U.S. officials later this week.

Focus on U.S. payroll data

While eurozone services sector data are due later Thursday, all eyes remain on the U.S. payroll report. Analysts forecast an increase of around 110,000 jobs in June, down from May’s 139,000, with the unemployment rate expected to tick up slightly to 4.3%. However, there is uncertainty, as a private sector payroll report on Wednesday showed the first drop in over two years.

The U.S. labor market’s resilience has reassured many Federal Reserve officials that interest rates can remain steady while the impact of tariffs on inflation becomes clearer.

Currently, the market prices in roughly a 25% chance of a rate cut in July, but a weaker-than-expected jobs report could increase those odds substantially.

UK political jitters affect markets

In the UK, investors remain cautious following a sharp rise in gilt yields Wednesday, triggered by concerns over the government’s handling of welfare reform. Chancellor Rachel Reeves appeared visibly distressed in Parliament, with the government citing a “personal matter.” Prime Minister Keir Starmer later affirmed his full support for Reeves.

Corporate news highlights

Currys (LSE:CURY) reported annual results surpassing expectations, with strong sales growth and disciplined cost management helping the retailer navigate inflationary pressures and higher wage expenses.

Meanwhile, Watches Of Switzerland (LSE:WOSG) forecasted full-year revenue growth between 6% and 10%, buoyed by its U.S. business surpassing $1 billion in revenue for the first time, driven by robust consumer demand.

Oil prices pull back amid supply concerns

Oil prices declined on Thursday, giving back some of Wednesday’s sharp gains following an unexpected rise in U.S. crude inventories and ahead of an OPEC+ meeting anticipated to result in increased output.

At 03:05 ET, Brent crude futures fell 0.8% to $68.58 per barrel, while U.S. West Texas Intermediate futures dropped 0.8% to $66.90.

Wednesday’s jump in oil prices was linked to Iran’s suspension of cooperation with the U.N. nuclear watchdog, stoking fears of supply disruptions in the Middle East.

However, U.S. government data revealed a 3.85 million barrel build in inventories last week, raising questions about fuel demand strength during the summer.

OPEC+ producers are expected to meet over the weekend and likely agree to raise output by around 411,000 barrels per day starting in August.

After a slight downturn in May, the eurozone’s services industry bounced back into growth territory in June, according to a recent report.

The S&P Global HCOB Eurozone Services Purchasing Managers’ Index (PMI) rose to 50.5 in June, up from 49.7 the previous month. This final figure also surpassed the earlier preliminary estimate of 50.0.

Since a PMI above 50 signals expansion and below 50 indicates contraction, the latest data confirms a modest recovery for the eurozone’s key services sector.

While activity rebounded, overall demand within the sector remained subdued. Nevertheless, business confidence showed some positive momentum during the month, hinting at a cautiously improving outlook.

The U.S. dollar remained relatively stable on Thursday, hovering near multi-year lows as investors awaited the release of the pivotal U.S. monthly employment report. This key data could heavily influence the Federal Reserve’s upcoming policy decisions.

At 04:00 ET (08:00 GMT), the Dollar Index—which measures the greenback against six major currencies—was largely unchanged at 96.420, lingering close to its lowest point in over three years. The dollar is on track to finish the week down about 0.5%.

Market Focus Shifts to Payrolls

Despite recent news including President Donald Trump’s announcement of a trade deal with Vietnam and Republican efforts in the House to advance a major tax cut package, the dollar’s movement was muted. The market’s attention is squarely fixed on the jobs report due later Thursday, as its results could be decisive for whether the Fed opts for a rate cut at its July meeting.

Economists forecast an increase of 110,000 new jobs in June, a slight slowdown from May’s 139,000. However, concerns linger due to Wednesday’s private payrolls report showing the first drop in over two years.

With inflation pressures appearing moderate and the labor market remaining a focal point, investors are closely watching for signs on whether the Fed will continue its cautious approach.

“Fed Chair Jerome Powell, who favors keeping rates steady, points to persistent inflation and a robust labor market as reasons to maintain a restrictive rate range of 4.25%-4.50% for now,” analysts at ING commented. “Any downside surprise in the jobs data would strengthen the case for a rate cut in July, currently priced in at a 26% probability by the market.”

Sterling Recovers Following Previous Selloff

In European markets, the euro edged up 0.1% against the dollar to 1.1806, approaching the high levels seen in September 2021. Eurozone services PMI figures are due later and may influence sentiment, but the U.S. payroll report remains the key driver.

Last month, the European Central Bank reduced interest rates for the eighth time in a year, lowering the deposit rate to 2%, and signaled it may hold steady at its next meeting. Alfred Kammer, head of the IMF’s European Department, noted on Wednesday that the ECB should maintain its current stance unless new developments significantly alter inflation expectations.

“Inflation risks in the eurozone are balanced,” Kammer said at the ECB Forum in Sintra, Portugal. “We believe the ECB should stay on course and keep the deposit rate at 2% unless there’s a major shock to inflation projections—which we do not currently foresee.”

Meanwhile, the British pound rebounded 0.2% to 1.3665 after dropping nearly 1% the day before amid concerns over UK fiscal policy following government delays on welfare reforms.

“Markets briefly feared that Chancellor Rachel Reeves might resign amid fiscal uncertainties,” ING analysts said. “In hindsight, Prime Minister Keir Starmer may have misread the mood of Parliament and the market by hesitating to fully support her—but he has now done so.”

They added, “The UK faces significant fiscal challenges ahead of the November budget.”

Asian Currencies Show Limited Movement

In Asia, the dollar was steady against the yen at 143.88, with traders cautious amid ongoing talks around U.S. trade deals. The dollar also slipped slightly against the Chinese yuan, trading at 7.1621, following a softer-than-expected private services sector reading for June—though growth continues for the 30th month in a row.

The yuan remained relatively unaffected by recent announcements from major chipmakers that the U.S. has eased some export restrictions to China, effective immediately. This development signals an improvement in Sino-American trade relations, just weeks after both sides agreed on a framework trade deal.