Wall Street Week Ahead: Jobs data, rate bets in focus as US stocks close solid first half

The US Federal Reserve's hawkish stance and an upcoming June jobs report are weighing on Wall Street, with investors concerned that strong employment data could push the central bank toward additional rate hikes in September. The Nasdaq fell more than 4% on the week, while US inflation broke above 4% for the first time in three years on energy price pressures. Oil has eased to around 70 dollars a barrel from 100 a month ago amid a Middle East ceasefire, while the Philadelphia Semiconductor Index remains up 85% from its March low despite a recent pullback.