CNBC's "Fast Money" Yields Surge After Hot Jobs Report… And Gamestop Sinks As Roaring Kitty Livestreams 6/7/24
Jun 7, 2024
Rates surge after strong jobs report, impacting Fed rate cut likelihood. Gamestop dips with stock sale plans. Roaring Kitty's livestream fails to boost shares. Apple's AI strategies and Gamestop woes discussed.
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Market Movers
- Yields spiked after a hotter-than-expected jobs report, impacting Fed rate cut likelihood.
- GameStop shares sank despite positive sentiment from a major investor.
Inflation and Fed Policy
- The Fed's rate hikes significantly lowered inflation, but the final stretch to 2% is proving difficult. The unemployment rate rose to 4%, a level not seen since January 2022.
The Fed's Next Move
- Time might be the Fed's most effective tool now. The current economic data doesn't necessitate immediate Fed action.