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BlockBeats News, June 23, Fortitude Mining Holdings is a vertically integrated digital asset mining platform with Zcash mining at its core. The company announced today that it has signed a definitive merger agreement with HeartSciences, and the transaction will be completed through an all-stock deal. The transaction is expected to be completed in the second half of 2026. Upon completion of the transaction, the merged company will continue to use the Fortitude brand and will be operated by the existing Fortitude management team, including Fortitude CEO Andrea Childs. The new company plans to list on the Nasdaq Capital Market under the ticker symbol "TUDE," subject to Nasdaq approval.

⑴ Data from the Arizona Office of Economic Opportunity show that the state's nonfarm employment decreased by 14,300 in May, a significant deviation from the pre-pandemic normal decline of around 6,700 for the same period. In contrast, April saw an increase of 16,300 jobs, highlighting a marked intensification in employment volatility. ⑵ The unemployment rate rose from 4.7% in April to 4.8%, remaining higher than the national level of 4.3% for the third consecutive month. At the same time, the labor force shrank by 49,805 year-on-year, a further widening compared to April’s decrease of 32,811. Chief economists pointed out that labor market conditions, as measured by household surveys, are showing signs of softening. ⑶ By sector, government agencies led with 10,400 layoffs, of which state government accounted for 8,100. Private education services decreased by 3,900, and the professional and business services sector, which led gains in April, turned to a decrease of 3,200 in May, indicating a lack of sustained growth momentum. ⑷ The construction and manufacturing sectors defied the trend by adding 2,700 and 1,000 jobs respectively, while healthcare and social assistance continued to drive annual job growth, contributing a cumulative 15,900 new positions over the past year and partially offsetting weakness in other sectors. ⑸ Despite the weaker monthly figures, total employment in the state is still up by 16,000 year-on-year, with a growth rate of 0.5%, slightly outperforming the national rate of 0.3%. The next employment report for June is scheduled for release on July 16, and the market will be closely watching whether this volatility signals a temporary disturbance or a trend reversal.

Glonhui, June 23 | Stifel has raised its year-end target for the S&P 500 Index to 7,800 points due to strong corporate earnings performance.