Axios

The U.S. economy added 57,000 jobs in June, while the unemployment rate ticked down to 4.2%, the government said Thursday.

Why it matters: Hiring lost momentum after months of surprising strength — a sign that economic uncertainty might be weighing on employers.

Amazon's greenhouse gas emissions rose sharply last year as the company raced to expand AI infrastructure.

Why it matters: Amazon's annual environmental report, released a day after Google's report unveiled similar increases, adds to mounting evidence that AI growth is making it harder for tech giants to maintain climate ambition.

Wait, what? The ink is barely dry on the U.S.-Iran memorandum of understanding, and somehow the market is swimming in oil.

Why it matters: Middle East oil transit and production have resumed faster than many analysts predicted, helping push down prices.

U.S. stock investors brushed off any concerns from the Iran war to send major indexes to their best quarter since 2020.

The big picture: Stocks rebounded after a bruising first quarter.

• In the second quarter, the S&P 500 index rose nearly 15%, the Nasdaq Composite jumped more than 21%, and the Dow Jones Industrial Average increased nearly 13%.

Oil shipments through the Strait of Hormuz are resuming faster than many analysts predicted, but fresh hostilities in recent days are threatening the trend.

Why it matters: The rebound in shipments is good news for the tight oil market and is helping push prices lower.

Even with the makings of a deal to end the Iran war, gas and airfare will take longer to return to pre-war levels — if they ever do.

Why it matters: Americans are feeling pain at the pump and on travel booking sites, frustrating President Trump as the midterms draw near.

A "heat dome" is forecast to bring dangerously high temperatures to much of the eastern half of the U.S. next week.

• The extreme heat could last through July 4 celebrations.

Driving the news: "Widespread temperatures into the 90s to low 100s, combined with high humidity, will result in heat indices approaching or exceeding 105-110 in many places," NOAA forecasters write.

• "Overnight lows will also be quite warm, with some record high minimums possible, bringing little to no relief from the heat in the nighttime hours."

Zoom in: Cities from Minneapolis and Chicago to Nashville and Atlanta will be under extreme heat risk next week, NOAA says.

• Such conditions affect "anyone without cooling/hydration as well as health systems, industries, and infrastructure."

🥵 Meanwhile: The heat wave baking Europe this week wouldn't be possible without climate change, a World Weather Attribution rapid study found.

For the first time, Uber drivers see charging access as a greater barrier to going electric than vehicle costs, a 13-country survey shows.

Why it matters: Public and residential infrastructure are persistent hurdles for the ride-hailing giant, which is behind on its electric vehicle targets.

• But its annual survey has bright spots, with drivers' concerns about EV prices consistently dropping.

New data underscores just how dominant Amazon, Google and Microsoft are when it comes to data centers in North America.

Why it matters: The data gives us a sharper understanding of the dominance by the top operators — including the three that have launched efforts to justify their water use.

New June temperature records were set in the U.K. and France this week as a deadly heat wave grips much of Europe.

Why it matters: A new World Weather Attribution analysis found human-caused climate change made this week's extreme heat "virtually impossible" 50 years ago.