Wall Street watches jobs report, Broadcom earnings amid AI rally
Business
Big week ahead for Wall Street: everyone's watching the US jobs report (June 5) and Broadcom's earnings.
The S&P 500 and Nasdaq have jumped over 10% and 16% this year, mostly thanks to AI-focused tech stocks.
But inflation and possible Fed rate hikes could slow things down, so these updates matter.
Economists forecast US May unemployment 4.3%
Economists think unemployment will stay at 4.3% in May, with about 85,000 new jobs added.
If job numbers are strong, it could mean more inflation worries; weaker stats might ease concerns about higher interest rates.
Broadcom's results are also key: its stock is up more than 50%, but a miss could shake up the tech sector that's been driving the rally.