Wall Street traded mixed on Thursday after a weaker-than-expected US jobs report strengthened expectations that the Federal Reserve could hold off on raising interest rates at its upcoming meeting.Around 8:15 PM IST, the Dow Jones Industrial Average gained 392.58 points, or 0.75%, to trade at 52,697.82. The S&P 500 also edged higher, rising 18.27 points, or 0.24%, to 7,501.50. The Nasdaq Composite, however, slipped 46.96 points, or 0.18%, to reach 25,993.07. Majorly, the market was positive after government data showed that US employers added just 57,000 jobs last month, well below economists’ forecast of 100,000. The latest reading also represented a slowdown from the pace of hiring recorded in May.The softer labour market data led investors to believe inflationary pressures could ease, particularly as oil prices have retreated below the levels seen before the war with Iran. If inflation slows in the coming months, the Federal Reserve may have less reason to raise interest rates several times this year.Expectations for monetary policy shifted soon after the report. According to CME Group data, traders now assign an 80% probability that the Federal Reserve, led by new chairman Kevin Warsh, will leave the federal funds rate unchanged at its meeting later this month. A day earlier, that probability stood at 71%.“The labor market isn’t overheating,” said Brian Jacobsen, chief economic strategist at Annex Wealth Management. He said the data could allow the Fed to wait through the summer to get more clues about how inflation is behaving before having to decide on hiking rates.The bond market reflected the same sentiment. The yield on the benchmark 10-year US Treasury fell to 4.47% after touching 4.50% earlier in the day. Before the war, the yield had stood at 3.97%. The two-year Treasury yield, which is more closely tied to expectations for Federal Reserve policy, declined even more sharply.Lower borrowing costs are generally seen as supportive for financial markets because they make it cheaper for businesses and households to borrow and spend. They also tend to support valuations across equities and other investments.Chipmakers, which have recently come under pressure amid concerns that the artificial intelligence-driven rally had pushed valuations too high, showed mixed performance. Micron Technology rose 1.4%, recovering some of its 10.6% decline from the previous session. Applied Materials slipped 2.8%, while Advanced Micro Devices moved between gains and losses during trading.National Beverage was among the day’s biggest gainers, with its shares jumping 10% after announcing a special dividend of $3.25 per share for investors. The company produces LaCroix sparkling water.The gains extended across most sectors, with nearly three out of every four companies in the S&P 500 trading higher. Cryptocurrency-linked stocks also rallied as bitcoin rose 4% towards $62,000 after dropping close to its lowest level since 2024 in the previous session. Robinhood Markets advanced 10.4%, Coinbase Global added 8.5%, and Strategy surged 11.4%.Oil prices continued to move lower amid hopes that negotiations could bring a permanent end to the war with Iran. Brent crude declined 1% to $70.82 per barrel.Outside the US, Asian markets ended sharply lower. South Korea’s Kospi index fell 7.9%, dragged down by heavy losses in chipmakers including SK Hynix. It marked the benchmark’s biggest decline since a 10% slide a little more than a week ago. Markets in Tokyo and Shanghai also fell 2.5% and 2%, respectively.European markets, however, outperformed their Asian counterparts, with France’s CAC 40 index rising 1.9%.