Jobs Report Looms, Tesla Seeks Musk Super-Package, and Broadcom’s AI Boom
Description
Markets are edging higher as investors brace for today’s critical jobs report, with economists expecting only modest gains in hiring and a potential uptick in unemployment, fueling speculation of September Fed rate cuts. Tesla has asked shareholders to approve a new pay package for Elon Musk that could grant him up to 12% of the company, even as competition in EVs intensifies. Broadcom shares surged on strong AI chip demand and a rumored OpenAI deal, while Lululemon stock plunged 19% after cutting guidance and citing tariffs as a headwind. Gap rallied 5% after announcing a push into the beauty market, Spirit Airlines is cutting service to a dozen cities as rivals swoop in, and bankrupt home decor chain At Home will shutter more than two dozen stores.
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