Jobs, jobs, and more jobs-but hopefully not too many. That's the name of the game today for markets with the S&P 500 near a record high.
Economic data are always important. But when a rate-hike decision is seen as 50-50 and the Federal Reserve chairman refuses to give any forward guidance-they become massive.
The August jobs report is a big deal, as is next week's consumer price index data.
Jobs can impact stocks in other ways. Trade Desk shares were rising on plans to cut 15% of its workforce.
It's worth remembering there's a story behind every job. Some are harder than others-just ask new Lululemon CEO Heidi O'Neill, who takes charge next week. The stock was down 19% ahead of the open after earnings late Thursday.
Adobe's newly announced CEO Anil Chakravarthy will also have a tough task reinvigorating the software company. While Apple's new hire, or internal promotion, John Ternus is also dealing with an early challenge.
Once you're established in the job, it doesn't get any easier. But it's best to avoid the sort of public spat currently unfolding between the CEOs of AMC Entertainment and Robinhood.
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📈 Here's what's happening in markets today:
Tech stock rally rolls on as bond yields slide.
Today's jobs report could upend odds for a September rate hike.
Coherent, Sandisk, Lululemon, Zscaler, and more stocks that explain today's market.
Micron stock rises as lower bond yields alleviate pressure on technology stocks.
Trade Desk stock rises on plans to cut workforce by 15%.
AMC stock jumps after attack on 'inexcusable' and 'vile' Robinhood practices.
Putin failed to build a Starlink. What that means for SpaceX stock.
🤖 Nvidia's $12.9 billion deal brings it closer to open model boom
Nvidia's $12.9 billion deal for the AI developer platform Hugging Face gives the AI chip maker more direct exposure to the open model boom as it continues spreading its influence throughout the AI universe. Nvidia already has a family of open models called Nemotron, and it's the largest contributor of open models and data to Hugging Face.
🧈 Netherlands move gold out of the U.S. as global risks rise
Gold investors were surprised when the Netherlands finished a monthslong operation to remove 86 tons of gold, about $12.3 billion, from the U.S. and Canada as it prepares for an unspecified potential "crisis situation." It moved the gold to London. The amount removed represents around 27% of the country's North America gold holdings.
🚕 Tesla's Cybercab is culmination of work on autonomous tech
Cybercab, Tesla's robo-taxi without pedals or a steering wheel that went into mass production earlier this year, is the culmination of years of work on autonomous driving technology, and part of Tesla's strategy to be the low-cost robo-taxi operator. Lower costs can help Tesla win share in the nascent self-driving taxi market. Read about it here.
👟 Lululemon Athletica lowers outlook on sales weakness
Lululemon Athletica beat profit expectations, but with a boost from a $134.5 million tariff refund it doesn't expect to repeat. Otherwise results were weak, with same-store sales falling 9% mainly on a drop in same-store sales in the Americas. Current quarter revenue is expected to be lower than a year ago and it lowered its outlook for the full year.
📉 Kalshi jumps into the debt projection game
Estimating the U.S. national debt as a percentage of economic growth is moving beyond data nerds. Prediction-market platform Kalshi is releasing a 10-year debt-to-gross-domestic-product projection that is built on real-time, crowdsourced data and fiscal forecasts from the Congressional Budget Office.
🛡? Zscaler bids to join the ranks of AI winners
It's been no secret that investors fear artificial intelligence could render some software tools obsolete, though certain cybersecurity stocks like CrowdStrike and Palo Alto Networks have avoided the bad sentiment. Zscaler hopes to join them, reporting better than expected fourth-quarter earnings and raising its outlook for the fiscal 2027 first quarter.
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💬 Quote of the day:
Other headlines moving markets:
Adobe announces that Anil Chakravarthy will become CEO in December.
IRS audit related revenue plunges. Blame tax cuts.
Planet Lab earnings top estimates as military space business grows.
A renewed threat to global grain supplies: Russia and Ukraine.
China is taking memory market share. This stock could be a big loser.
SpaceX Starship test 14 could be days away.
Polestar stock one of the saddest car stories.
Campbell's and other staples stocks hit a rough patch.
How Snowflake silenced its AI critics.
AI can't ground this airline software stock.
Microsoft CEO Nadella sells $43 million of stock.
Higher yields are a boon for muni bond investors.
Ride this roller coaster if you dare. Consider the 6% REIT that bought it, too.
Fed officials open the door to holding rates steady this month.
A start-up called Nothing has raised $450 million. It's coming for the iPhone.
BMW stock has rarely been cheaper amid pressure in Chinese market.
3 dividend stocks from a value pro.
What we've learned since 9/11.
-Edited by Liz Moyer, Stacy Ozol, and Rupert Steiner
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