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Beat the street: Hotter-than-expected US jobs report dims September Fed rate cut hopes; GameStop; Lyft; NVIDIA

Lyft gets a lift from its outlook. Plus, NVIDIA’s incoming 10-for-1 stock split.

US May NFP figures

On today’s edition of “Beat the street,” Angeline Ong discussed unexpected robust U.S. Non-Farm Payroll (NFP) figures for May, which came in at 272,000 versus the anticipated 185,000, impacting financial markets and expectations regarding Fed rate cuts.

Higher-than-expected wage growth of 4.1% year-on-year further suggested sustained labor market strength. These figures led to increased volatility, as seen in stock indices like the Dow Jones and the US dollar strengthening. Market analysts expressed surprise, adjusting their short-term forecasts for Fed actions.

Stock analysis

Additionally, specific stocks like Lyft and NVIDIA saw significant movements based on their forecasts and business updates.

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