Beat the street: Hotter-than-expected US jobs report dims September Fed rate cut hopes; GameStop; Lyft; NVIDIA
Stronger-than-expected Non-Farm Payrolls data poured cold water on hopes of a September rate cut by the Fed. GameStop announces its share sale and results ahead of the return of the "Roaring Kitty" livestream.
Lyft gets a lift from its outlook. Plus, NVIDIA's incoming 10-for-1 stock split.
(AI Video Summary)
US May NFP figures
On today's edition of "Beat the street," Angeline Ong discussed unexpected robust U.S. Non-Farm Payroll (NFP) figures for May, which came in at 272,000 versus the anticipated 185,000, impacting financial markets and expectations regarding Fed rate cuts.
Higher-than-expected wage growth of 4.1% year-on-year further suggested sustained labor market strength. These figures led to increased volatility, as seen in stock indices like the Dow Jones and the US dollar strengthening. Market analysts expressed surprise, adjusting their short-term forecasts for Fed actions.
Stock analysis
Additionally, specific stocks like Lyft and NVIDIA saw significant movements based on their forecasts and business updates.
This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
Seize a share opportunity today
Go long or short on thousands of international stocks.
- Increase your market exposure with leverage
- Get spreads from just 0.1% on major global shares
- Trade CFDs straight into order books with direct market access
Live prices on most popular markets
- Forex
- Shares
- Indices