White House National Economic Council director Hassett said employment data are consistent with strong economic conditions.

Li Auto is carrying out a new organizational restructuring centered on product decision-making, moving parts of the product department — including vehicle and autonomous-driving product functions — into R&D, people with direct knowledge said on July 2. A source close to senior management said the change aims to simplify a long-criticized, cumbersome vehicle product-definition process that currently involves three groups: Liu Jie's product-line unit (front end), Fan Haoyu's platform product-definition group (middle), and the R&D teams.

Alphabet (GOOGL.O) shares fell 1.3% in premarket trading after the company lost a legal challenge to an EU antitrust fine.