The stock market rally was mixed on Thursday as investors awaited the May nonfarm payroll report. GameStop shares surged as Keith Gill’s YouTube account scheduled a livestream for Friday. Economists predict that US employers added 175,000 jobs last month, similar to April’s numbers.
US stocks were uncertain as investors awaited the crucial nonfarm payroll report for May. Expectations are for a job increase of 175,000, similar to April. Analysts warn that any significant deviation from this range could impact the outlook for interest rate cuts and cause stock market volatility.
JPMorgan strategists identified potential scenarios for a summer stock market sell-off, including surprises in future employment reports. Market focus has shifted slightly from inflation to concerns about economic growth and job market trends.
GameStop experienced another rally on Thursday, driven by social media activity from Keith Gill. Nvidia’s recent record-breaking streak was interrupted as the chip maker fell 2% after surpassing Apple as the world’s second most valuable company.
Overall, the stock market remains uncertain as investors await key economic data and monitor market trends closely.