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Meta surges 10% after reports the company is building out a cloud business and looking to monetize excess AI computing capacity. June payrolls land a day early, with the Fed's next move riding on the numbers. And the Financial Times reports OpenAI is proposing to hand the U.S. government a 5% stake ahead of a planned IPO.

Today’s recommended read: Wall Street's aging bull meets an 'everlasting' US expansion (reuters.com/commentary/reuters-open-interest/w…), Mike Dolan

Subscribe to Mike Dolan's Morning Bid newsletter, (reuters.com/newsletters/morning-bid-us) and check out his columns on Reuters Open Interest (reuters.com/commentary/reuters-open-interest)

Read more from Amanda Cooper (reuters.com/authors/amanda-cooper) and Anna Szymanski (reuters.com/authors/anna-szymanski)

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