WS #11245
June nonfarm payrolls at 57K vs 113K consensus, crushing rate-hike expectations and boosting equities, especially rate-sensitive sectors. Meta's cloud computing plans and Cerebras/OpenAI inference efficiency gains raise doubts about AI infrastructure demand, hitting memory chip stocks, while Tesla and Rivian beat delivery estimates, creating a divergence within tech.
US Jobs Miss Drives Risk-On
June nonfarm payrolls at 57K vs 113K consensus, crushing rate-hike expectations and boosting equities, especially rate-sensitive sectors.
Meta's cloud computing plans and Cerebras/OpenAI inference efficiency gains raise doubts about AI infrastructure demand, hitting memory chip stocks, while Tesla and Rivian beat delivery estimates, creating a divergence within tech.