Beat the street: Jobs data in focus; chip wars; GameStop soars
New trading month, old problems. Traders focus on a string of labour data releases for clues on the timing of the first US rate cut. AMD launches new AI chips to take on leader NVIDIA.
GameStop soars after Keith Gill's Reddit post shows $116 million bet.
(AI Video Summary)
GameStop shares boost
In the first "Beat the street" episode for June, Angeline Ong and Chris Vecchio discuss major financial market movements as traders anticipate potential US rate cuts later this year. Key topics include a speculated short squeeze boosting GameStop shares, spurred by Keith Gill's $116 million bet on the stock, and NVIDIA's position strengthening ahead of its AI chip rollout in 2026.
Fed rate cut timing
Additionally, upcoming US labor market data and central bank rate decisions are highly anticipated, with the jobs figures likely to influence Fed's rate cut timelines. Market trends depicted the S&P 500 potentially overcoming a corrective phase, and global central banks, including the ECB, are expected to adjust rates, directly impacting major currency and commodity trades.
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