Hey, here’s the real story for today.
Markets jolted on weak job data, while AI chip demand buoyed tech names, and digital assets found fresh footing amid regulatory tailwinds.
Jobs Disappoint, Markets Cheer
The August payroll report showed only ~22,000 jobs added, well below forecasts, while unemployment ticked higher around 4.3%. That weak number spurred renewed confidence that the Fed will cut rates at its September meeting, helping futures and equities rally to fresh highs.
Broadcom Leads the AI Charge
Broadcom stock surged over 10% pre-market after unveiling blowout AI chip earnings and revealing OpenAI as a major new customer. That surge helped lift tech sentiment, especially in AI-heavy sectors.
Bitcoin Climbs, Crypto Looks Alive
Crypto markets saw a lift today, Bitcoin jumped over 1%, reaching a one-week high above $112K. Digital assets gained momentum as regulatory clarity started to emerge and institutional flows resumed.
Final Word
Today balanced on a seesaw: weak labor data pushing rate-cut chatter, Broadcom providing fireworks in tech, and crypto stirring back to life. With jobs, rates, and regulation all in motion, the day reminded everyone to stay nimble.