Early US jobs data keeps stock market supported

The keenly awaited US non-farm payrolls figure arrived a day early this month due to July 4th Independence Day holiday.  The total number of new jobs added was pretty much in line with expectations, as was the unemployment rate. However, the average hourly wages figure was flat against expectations for modest growth around +0.2%. This dampened expectations that the Federal Reserve will bring forward higher interest rates in September, thus keeping the cost of borrowing cheap which is always supportive of equities in an environment worried about the effect that rising rates might have.  Stocks rose in New York and London on the news although with all eyes on Greece, we expect no clear direction until after the Greek referendum on Sunday.