WS #11289
US June nonfarm payrolls missed expectations (57K vs 110K), reducing rate hike fears and fueling rotation from tech/AI into cyclicals; Dow hit record high while Nasdaq fell 0.8%. Zuckerberg told staff AI agent development has not accelerated as expected, contradicting AI enthusiasm narrative and weighing on META.
Tech Rotation Escalates on Weak Jobs Data
US June nonfarm payrolls missed expectations (57K vs 110K), reducing rate hike fears and fueling rotation from tech/AI into cyclicals; Dow hit record high while Nasdaq fell 0.8%.
Zuckerberg told staff AI agent development has not accelerated as expected, contradicting AI enthusiasm narrative and weighing on META.