WS #11268
June payrolls miss badly at 57K, but unemployment falls to 4.2% and wage growth is benign, reinforcing soft-landing/disinflation thesis and boosting equities. Reports that White House may take ~5% stake in OpenAI and other frontier AI labs, de-risking AI trade and signaling national-priority infrastructure status. Meta CEO Zuckerberg says internal AI agent development hasn't accelerated as expected, weighing on META shares and raising questions about AI capex returns. Apple shares up 4.4%, best day since August, approaching all-time high on positive macro sentiment and strong product cycle momentum.
June Jobs Report: Soft Landing Narrative
June payrolls miss badly at 57K, but unemployment falls to 4.2% and wage growth is benign, reinforcing soft-landing/disinflation thesis and boosting equities.
Reports that White House may take ~5% stake in OpenAI and other frontier AI labs, de-risking AI trade and signaling national-priority infrastructure status.
Meta CEO Zuckerberg says internal AI agent development hasn't accelerated as expected, weighing on META shares and raising questions about AI capex returns.
Apple shares up 4.4%, best day since August, approaching all-time high on positive macro sentiment and strong product cycle momentum.