"We can finally say AI isn't killing jobs"

1. Labor market differential. "New cycle low for the Conference Board's labor differential in June".

2. JOLTS. Job openings surprised to the upside in May (7.594m vs. 7.3m expected). Rates for openings (4.6%), hires (3.3%), and quits (1.9%) were unchanged. They ticked up for layoffs & discharges (1.1% from 1%).

3. AI vs. jobs. "We can finally say AI isn't killing jobs ... Firms that adopt AI heavily grow headcount 10% over two years following adoption. Low adopters see no statistically significant change."

4. Retail BTFD. "Retail investors purchased nearly 3.5x the average daily amount on SPX down days during the first half of 2026, the strongest buy-the-dip behavior in our dataset. Even on SPX rallies, they continued to buy nearly 1.5x the daily average."

5. SPX ATHs. "Here's another reason for dip buyers to continue BTFD in July: the S&P 500 has made 20+ new highs in the first six months of the year. In such cases, $SPX has never peaked before August, and the full year has been positive 100% of the time."

ICYMI