Key Takeaways
- Microsoft (MSFT) has issued a critical warning that hackers involved in a widespread breach of SharePoint servers are now deploying ransomware, impacting over 100 organizations globally.
- The Reserve Bank of Australia (RBA) notes a gradual adjustment in the labor market, with the unemployment rate remaining relatively low despite a recent increase to 4.3% in June 2025.
- Donald Trump is set to personally visit the Federal Reserve on Thursday, escalating his criticism over the central bank’s $2.5 billion renovation project and ongoing disputes with Fed Chair Jerome Powell regarding monetary policy.
A significant cybersecurity alert from Microsoft (MSFT) is dominating headlines, as the tech giant reports that some hackers involved in a widespread breach of SharePoint servers are now deploying ransomware. This critical development follows the exploitation of a zero-day vulnerability in self-hosted Microsoft SharePoint servers, which has already compromised over 100 organizations, including U.S. federal agencies and major enterprises worldwide. Experts warn that more than 10,000 companies could be at risk, with the vulnerability allowing hackers to steal private keys, deploy malware, and gain deep access to sensitive data. Microsoft has released security patches, but organizations are urged to assume potential compromise and conduct urgent forensic reviews.
In economic news, the Reserve Bank of Australia (RBA) is closely monitoring the labor market, with Governor Michele Bullock stating that the market is adjusting through key factors such as vacancies, working hours, and voluntary job shifts. Despite this adjustment, the unemployment rate continues to hold at relatively low levels. However, recent figures from June 2025 show Australia's unemployment rate climbed to 4.3%, up from 4.1% in May, marking its highest level since November 2021. This rise, coupled with a decline in full-time jobs, suggests a softening labor market that could influence future RBA monetary policy decisions.
Meanwhile, political scrutiny is intensifying on the Federal Reserve as Donald Trump is scheduled to personally visit the central bank on Thursday. This visit comes amid escalating criticism over the Federal Reserve's $2.5 billion renovation project, which has seen significant cost overruns. Trump's focus on the renovation project is also intertwined with his ongoing criticism of Fed Chair Jerome Powell for not cutting interest rates, with the former president suggesting potential "fraud" related to the project. White House officials are reportedly reviewing the contentious renovation, which has exceeded its initial budget by $700 million, drawing sharp condemnation from the Trump administration.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.