Friday jobs data, Nvidia stock split: Market Domination Overtime
On today's episode of Market Domination Overtime, Yahoo Finance's Jared Blikre and Julie Hyman break down the market close and the trading day's biggest stories. The major indexes (^DJI,^GSPC, ^IXIC) closed largely unchanged on Thursday as Wall Street awaits the May jobs report releasing on Friday morning. The jobs report will be examined by the Federal Reserve as it weighs its next interest rate decision. As the European Central Bank cut interest rates for the first time since 2019, former Kansas City Federal Reserve president Esther George believes the move reflects the fact that inflation was "really a global phenomenon" with distinct regional dynamics. As the tech industry continues to be a key catalyst for the economy, Nvidia (NVDA) remains a top player. The chip giant will execute a 10-for-1 stock split on Friday after the closing bell, and recently crossed $3 trillion market capitalization. Jennison Associates Head of Global Equity Mark Baribeau says the company has an "amazing story," with a never-before-seen revenue growth. He adds that Nvidia will remain a "distinct leader" in this fourth era of computing with generative AI. Finally, Jared Blikre gives an overview of what to watch on Friday, June 7th, highlighting "Roaring Kitty's" livestream set for noon Eastern time — his first livestream since the 2021 GameStop (GME) short squeeze. This post was written by Melanie Riehl