Stocks Get Slammed After Weak Jobs Data

August 2, 2024

MRKT Matrix - Friday, August 2nd

• Dow closes down 600 points, Nasdaq enters correction after weak jobs report (CNBC)

• Intel heads for worst day on Wall Street in 50 years, falls to lowest price in over a decade (CNBC)

• Big Tech Fails to Convince Wall Street That AI Is Paying Off (Bloomberg)

• How Apple Earnings Made Its Stock the Safe Play in Tech (Barron's)

• Job growth totals 114,000 in July, much less than expected, as unemployment rate rises to 4.3% (CNBC)

• JPMorgan, Citi See Fed Dealing Two Half-Point Rate Cuts in 2024 (Bloomberg)

• A $1 Trillion Time Bomb Is Ticking in the Housing Market (Bloomberg)

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