Wall Street rallies after July jobs loss kills Fed rate-hike case

Macro Impact 4
โดย Benzinga·US·Read original
Summary · why it matters

The U.S. economy shed 23,000 nonfarm payrolls in July, triggering Wall Street's best week since April as investors concluded the Federal Reserve's next move would no longer be a rate increase. Private employers added 30,000 jobs, well short of the 78,000 expected, while May and June figures were revised down by a combined 103,000, and average hourly earnings rose just 3.2% year-over-year, the slowest pace since 2021. The S&P 500 rallied 3.5% for the week and the Nasdaq 100 jumped 4.8%, while gold surged 7.5% to $4,347.70 an ounce, its strongest week in seven months. Among individual stocks, Coherent Corp. soared 43.5% on peer results and a JPMorgan price-target increase, Palantir Technologies rose about 29% after second-quarter revenue climbed 93% to $1.94 billion and full-year guidance was raised to $8.15 billion, and Zebra Technologies posted a 45% earnings beat with adjusted earnings of $6.35 a share. On the downside, The Trade Desk lost roughly a quarter of its value after third-quarter guidance of at least $650 million fell far below the $805 million expected, Honeywell Aerospace cut its full-year organic sales growth outlook to 4%-5% from 7%-9%, and DaVita fell 17% despite beating estimates because it reaffirmed an outlook whose midpoint sat below consensus. Attention now turns to the July consumer price index on August 12, with economists expecting headline inflation to ease to 3.4% and core inflation to slow to 2.5%.

Impact on stocks 7

Defense & Geopolitical Fragmentation± Mixed · 2 stocks
Palantir Technologies Inc.
PLTR
▲ PositiveDemandrelevance

Second-quarter revenue climbed 93% to $1.94 billion and full-year guidance was raised to $8.15 billion.

Honeywell Aerospace Inc
HONA
▼ NegativeDemandrelevance

Honeywell Aerospace cut its full-year organic sales growth outlook to 4%-5% from 7%-9%.

Communication Services▼ · 1 stocks
Trade Desk Inc
TTD
▼ NegativeDemandrelevance

Third-quarter guidance of at least $650 million fell far below the $805 million expected.

Artificial Intelligence▲ · 1 stocks
Coherent Inc
COHR
▲ PositiveCapitalrelevance

Soared 43.5% on peer results and a JPMorgan price-target increase.

Robotics & Physical AI▲ · 1 stocks
Aging Population▼ · 1 stocks
Semiconductors▲ · 1 stocks
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