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SpaceX IPO Hype Meets a Hot Jobs Report
The strong May jobs report is pushing Treasury yields higher and adding pressure on the Federal Reserve, while weakness in major tech names is dragging the broader market lower despite more stocks rising than falling.
Chuck Zodda and Mike Armstrong break down the market reaction to the latest jobs data, what higher yields could mean for the Fed’s next move, and why the S&P 500 is becoming harder to read as a handful of mega-cap stocks dominate index performance. They also discuss S&P’s decision not to change its index rules for SpaceX, what that means for investors ahead of the company’s…
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