Will Apple live up to AI hopes at this week’s WWDC? [Video]
|The sight of the 272K new nonfarm job additions and the fastening wages growth above 4% on a yearly basis smashed the dovish Federal Reserve (Fed) expectations on Friday, and sent the US yields and the dollar higher. We are back to the starting point where the Fed could hardly justify a rate cut when jobs data remains strong and inflation is not easing as fast as it should. Happily, suspense about what the Fed thinks about this won’t last long; the Fed will start its two-day policy meeting tomorrow and announce its latest decision on Wednesday, just after the CPI update for May due the same day.
Equity markets’ reaction to Friday’s strong jobs data was contained. The S&P500 and Nasdaq closed last Friday slightly in the negative after having advanced to a fresh record. The GameStop frenzy probably came to an end last Friday, as the company announced earnings earlier and they looked worse than expected.
All eyes are on Apple’s WWDC event, the Fed and the Bank of Japan (BoJ decisions this week!
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