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Real-time News
June 5th - According to foreign media reports, Mays non-farm payroll data far exceeded market expectations, causing the US interest rate futures market to significantly increase its bets on a Federal Reserve rate hike at its December meeting. According to LSEG data, the interest rate futures market currently projects a 65% probability of a Fed rate hike in December, up from 48% before the jobs report was released. For the June meeting, the market still widely expects the Fed to keep interest rates unchanged in the 3.50% to 3.75% range. The stronger-than-expected jobs data indicates the continued resilience of the US labor market and further weakens market expectations for a near-term rate cut, while strengthening investors assessment that the Fed may resume rate hikes in the future to address inflationary pressures.June 5th - Analyst Jersey commented on the US non-farm payrolls: Its difficult to describe the job market as weak. For the interest rate market, the risk leans more towards rate hikes, while the likelihood of rate cuts decreases. Kevin Warsh will find it difficult to persuade other members of the Federal Reserves Monetary Policy Committee to lower interest rates. We dont believe a rate hike is imminent, but if we see several more job increases like this, several rate hikes will become our baseline scenario.On June 5th, at the 2026 Qualcomm Automotive Technology and Cooperation Summit, Qualcomm Technologies, together with ecosystem partners including Chemmax Technology, CarLink, Banma Smart, Desay SV, Magnatec, and ThunderSoft, announced the Claw ecosystem plan for automotive AI. Through this plan, Qualcomm Technologies and its ecosystem partners are committed to directly deploying AI agents and multimodal large models to vehicles.June 5th - According to CNBC, data released Friday by the U.S. Bureau of Labor Statistics showed unexpectedly strong job growth in May as the U.S. labor market continued its robust expansion. The breadth of job growth in May broadened, with multiple industries recording solid increases. The leisure and hospitality industry added 70,000 jobs, far exceeding the 14,000 monthly average increase over the past year, leading all industries. Local government employment increased by 55,000. The healthcare industry, which has historically contributed the most to job growth, added 35,000 jobs, roughly in line with its historical average; the social assistance industry added 12,000 jobs. In recent days, Federal Reserve officials have become more optimistic about the labor market outlook and have shifted their focus more towards persistent inflation. Persistent inflationary pressures have largely ruled out the possibility of further interest rate cuts by the Federal Reserve.June 5th - Analyst Anstey commented on the US non-farm payrolls: Considering the Federal Reserves mission is to maintain price stability and achieve full employment, it seems difficult to conclude that the current job market needs help based solely on these data. On the other hand, the inflation rate is already well above the Feds 2% inflation target. Next weeks CPI data is expected to show core inflation rising to 2.9%, while headline inflation will surge to 4.2% year-on-year (somewhat bad compared to the 3.4% year-on-year growth in average hourly earnings in May). It would be surprising if Fed policymakers didnt further hint at a possible rate hike in 2026.
