WS #11236
June nonfarm payrolls +57K vs +110K expected, with downward revisions to prior months; unemployment rate 4.2% vs 4.3% expected; the data sharply reduces the probability of a Fed rate hike and supports a dovish pivot. OpenAI reportedly discussed giving the US government a 5% stake in the company, amid political pressure. Alibaba agrees to pay $600 million to settle DOJ allegations over illegal drug sales on its marketplaces. Meta to sell excess computing power to outside customers; stock jumped 9% on Wednesday but margins may be slimmer than ad business.
US Jobs Miss - Dovish Fed Pivot
June nonfarm payrolls +57K vs +110K expected, with downward revisions to prior months; unemployment rate 4.2% vs 4.3% expected; the data sharply reduces the probability of a Fed rate hike and supports a dovish pivot.
OpenAI reportedly discussed giving the US government a 5% stake in the company, amid political pressure.
Alibaba agrees to pay $600 million to settle DOJ allegations over illegal drug sales on its marketplaces.
Meta to sell excess computing power to outside customers; stock jumped 9% on Wednesday but margins may be slimmer than ad business.