P.M. Edition for July 2. The U.S. has been adding jobs at a respectable clip, though the pace has been slowing. But WSJ economics reporter Justin Lahart reports that the labor market is showing other signs of softness. Plus, Tesla reports disappointing second quarter numbers, following months of declining sales. WSJ reporter Becky Peterson discusses why investors are still optimistic about the company. And Sean “Diddy” Combs was found not guilty of racketeering and sex trafficking but was convicted of less serious offenses. Alex Ossola hosts.

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