Chip makers leading market gains, new rounds of layoffs: Asking For A Trend
US equities (^GSPC, ^DJI, ^IXIC) rose with the tech-heavy Nasdaq composite leading the charge after the Federal Reserve announced it will leave interest rates unchanged for now. However, Chair Jerome Powell claimed that a cut in September was "on the table" if inflation continues to tick lower. Top tech companies such as Microsoft (MSFT) and Meta (META) continue to pour billions into capex spending on AI development and infrastructure, concerning analysts. Moor Insights & Strategy Founder, CEO and chief analyst Patrick Moorhead joined the show to give insight into those companies' earnings, the AI trade, and what it means for investors, Disney (DIS) and Bungie (BG) have announced layoffs, with reports that Intel (INTC) may be joining them. ZipRecruiter chief economist Julia Pollak joined the show to discuss her outlook on the labor market and the impacts the Fed may have on it. For more expert insight and the latest market action, click here
