WS #13609
July nonfarm payrolls fell 23K vs +80K expected, prior months revised down 103K, unemployment 4.1%, wage growth 0.1% m/m — sharply reducing odds of a September Fed hike and boosting rate-sensitive assets. AI trade remains robust: Lam Research, Applied Materials, Micron, Tower Semiconductor, Cloudflare, Datadog all showing strength; Google's $25B bond sale and DeepSeek price increases signal AI capex boom continues.
US Jobs Report Miss
July nonfarm payrolls fell 23K vs +80K expected, prior months revised down 103K, unemployment 4.1%, wage growth 0.1% m/m — sharply reducing odds of a September Fed hike and boosting rate-sensitive assets.
AI trade remains robust: Lam Research, Applied Materials, Micron, Tower Semiconductor, Cloudflare, Datadog all showing strength; Google's $25B bond sale and DeepSeek price increases signal AI capex boom continues.