Feb. jobs data, Trump's crypto summit, Broadcom: 3 Things

In This Article:

US stock futures (ES=F, NQ=F, YM=F) are moving lower in response to February's jobs report, which saw the US labor market add 151,000 jobs last month while the unemployment rate ticked back up to 4.1%.

Bitcoin (BTC-USD) prices are fluctuating Friday morning ahead of the White House's first-ever crypto summit today after President Trump established a strategic bitcoin reserve via an executive order on Thursday.

Broadcom (AVGO) shares are surging in Friday's pre-market session after releasing fiscal first quarter earnings figures that topped estimates.

To watch more expert insights and analysis on the latest market action, check out more Morning Brief here.

This post was written by Luke Carberry Mogan.

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Let's get you the three things that you need to know today. First up, stock futures pushing higher after the February jobs report showed 151,000 jobs added during the month of February. That was below the estimate of 180,000. Today's jobs report, the latest evidence that the labor market is softening just a bit, just as President Trump's policies raise some concerns about the broader economy. Plus, Bitcoin bearing losses this morning, following initial declines after President Trump signed in an order creating a strategic Bitcoin reserve and additional stockpile of other digital assets. The reserve will be capitalized with Bitcoin already owed owned by the federal government, and any further additions will require, quote, budget neutral strategies that impose no incremental costs on American taxpayers. This order coming ahead of the gathering of crypto executives at the White House later on this afternoon where they're expected to meet with President Trump and the White House cryptozar David Sachs to discuss the industry's outlook. And signs of optimism for the AI trade. Broadcom shares surging to the upside by the most in three months after the company gave an upbeat forecast that was driven by strong demand on AI spending, a sign of relief for the trade that has been under a bit of pressure as of late. Meanwhile, Goldman strategists calling for a rotation back into AI, saying that investor interest in artificial intelligence trade is likely to be revived, revived as stocks show technological progress and earnings growth. So again, we're seeing a buying opportunity there. We'll see how it all plays out.