Group 1 - The rebound in U.S. labor productivity in Q2, reported at 2.4%, is better than the market expectation of 2% and contrasts sharply with the revised -1.8% in Q1, which helps mitigate wage-related inflation pressures [1] - Non-farm unit labor costs in the U.S. increased by 1.6% in Q2, slightly better than the expected 1.5%, and significantly lower than the 6.6% increase in Q1, indicating a potential easing of inflationary pressures from labor costs [1] - Companies are likely to seek new technologies and upgrade equipment to enhance employee efficiency, which can help alleviate inflationary pressures from rising wages and higher import tariffs [1] Group 2 - The permanent retention of tax cuts and investment incentives in the recently signed budget by President Trump may encourage companies to increase capital expenditures [3] - Wage growth indicators are showing a slowdown, supporting the view that the labor market is no longer a source of inflationary pressure, with average hourly earnings growing at an annualized rate of 4% and inflation-adjusted employee compensation increasing by 2.3% [3] - Some industries significantly affected by Trump's immigration policies are experiencing wage increases as employers may be forced to raise wages to compensate for reduced labor supply [3]