Spain vs. Portugal: World Cup Pre-Quarterfinal Preview

Spain and Portugal Advance to World Cup Pre-Quarterfinals as US Jobs Data Shakes Markets

Spain crushed Austria 3-0 while Portugal staged a dramatic 2-1 comeback against Croatia to book their places in the World Cup pre-quarterfinals, as US markets reacted to softer-than-expected jobs data ahead of the July 4th holiday weekend. Breaking news, global news, business news trends, today's top headlines, daily news analysis, trending stories, and latest news updates — these are the stories driving conversations worldwide.

Spain delivered a commanding performance against Austria in the World Cup Round of 32, securing a 3-0 victory that sets up a blockbuster pre-quarterfinal clash with Portugal on July 7. Read more global news →

Mikel Oyarzabal scored twice for Spain, with teenage sensation Lamine Yamal and Dani Olmo causing constant problems for the Austrian defense from the opening minutes. Spain dominated possession throughout, registering 11 shots in the first half alone with six on target, while Austria managed just a single shot that failed to test the Spanish goal.

Austria's captain David Alaba came close with a 35th-minute effort, but Spain responded immediately when Oyarzabal opened the scoring in the 36th minute. The second goal arrived in the 66th minute through a header from Alex Baena, assisted by Oyarzabal, effectively killing off Austrian hopes of a comeback. See trending stories →

Portugal Stage Dramatic Comeback Against Croatia

In a thrilling encounter in Boston, Portugal fought back from a goal down to defeat Croatia 2-1 and advance to face Spain in the pre-quarterfinals. Get daily news analysis →

Croatia took the lead in the 53rd minute through Ivan Perisic, putting the Portuguese on the back foot. However, Cristiano Ronaldo equalized from the penalty spot in the 68th minute before Gonçalo Ramos struck a dramatic winner in the 94th minute of stoppage time.

The match was evenly contested in the first half, with both sides creating chances but failing to break the deadlock. Bruno Fernandes saw an early effort saved by the Croatian goalkeeper, while Ronaldo had a 13th-minute attempt that missed the target.

The victory sets up a heavyweight pre-quarterfinal clash between Portugal and Spain on July 7. With both teams boasting formidable attacking talent, the match promises to be one of the tournament's most anticipated encounters.

Switzerland will face Algeria in the third Round of 32 match, scheduled for later today at 11:00 PM ET in Kansas City. Latest news updates →

US Jobs Data Shakes Markets

US stocks closed mixed on Thursday, with the Dow Jones Industrial Average surging to a record closing high of 52,900.07 points, while the tech-heavy Nasdaq tumbled 0.80% to 25,832.67. Business news and trends →

The market reaction followed the release of the US non-farm payrolls report, which showed the economy added just 57,000 jobs in June — far below economists' expectations of 110,000. The unemployment rate remained steady at 4.2%, in line with forecasts.

The weak jobs data eased concerns about potential interest rate hikes from the Federal Reserve. Expectations for a rate hike at the September meeting dropped to 55%, down from 64.1% prior to the report, according to CME FedWatch data.

However, not all analysts are convinced the soft data signals a pivot from the Fed. "The jobs report doesn't mean the fear of inflation is over," said Adam Sarhan, chief executive at 50 Park Investments in New York. "It just takes the pressure off the Fed to raise rates in the short term."

"I think the Fed interest rate expectations, to expect a hike sometime down the line, is a safer bet than expecting a cut. Core inflation, minus fuel and food, has consistently been above 2%." — Anna Rathbun, CEO of Grenadilla Advisory

July 4th Weather Disruptions

Severe weather continues to impact travel plans for millions of Americans ahead of the July 4th holiday weekend. Southern Wisconsin and parts of the Midwest remain under First Alert Days due to dangerous heat and severe thunderstorm threats.

An Extreme Heat Warning remains in effect, with scattered storms expected to continue through Saturday. The Fourth of July itself is forecast to be the most active day of the weekend, with scattered to widespread thunderstorms possible across the region. Travelers are advised to monitor forecasts closely, particularly for those planning outdoor fireworks or festivities.

In France, six departments have been placed under red alert for "very high risk" of forest fires, including Bouches-du-Rhône and Vaucluse, as multiple wildfires continue to burn across the region. Today's top headlines →

What This Means For You

For Sports Fans

The World Cup Round of 32 concludes today with Switzerland vs. Algeria. The pre-quarterfinal clash between Portugal and Spain on July 7 promises to be one of the tournament's standout matches. Entertainment news →

For Investors and Professionals

The soft jobs data suggests cooling labor markets may force the Fed to reconsider rate hikes. HR and talent acquisition professionals should monitor how employers adjust hiring strategies amid economic uncertainty. Future of work trends →

For Travelers

The July 4th weekend faces significant weather disruptions across the US and Europe. Plan accordingly and stay updated on local forecasts. Lifestyle features →