WS #11244
June nonfarm payrolls at 57K vs 113K consensus, significantly reducing odds of a Fed rate hike in July, boosting equities and bonds. Meta's cloud plans and Cerebras/OpenAI inference efficiency gains are raising concerns about AI chip demand, triggering a sharp selloff in Asian memory stocks (KOSPI -7.89%) and pressuring MU.
Weak June Jobs Report Crushes Rate Hike Bets
June nonfarm payrolls at 57K vs 113K consensus, significantly reducing odds of a Fed rate hike in July, boosting equities and bonds.
Meta's cloud plans and Cerebras/OpenAI inference efficiency gains are raising concerns about AI chip demand, triggering a sharp selloff in Asian memory stocks (KOSPI -7.89%) and pressuring MU.