U.S. stocks fell Friday after weak job data raised concerns about economic slowdown

Stocks plunged on Friday as new job numbers overwhelmed and underwhelmed Wall Street at the same ￰0￱ labor report triggered a sharp reversal on Wall Street, with expectations now split between a small cut and a more aggressive move when the Fed meets later this ￰1￱ S&P 500 dropped 0.32% to 6,481.50, while the Nasdaq Composite inched down 0.03% to 21,700.39, and the Dow Jones Industrial Average lost 220.43 points, roughly 0.48%, to close at 45,400.86. All three had touched intraday highs earlier, with the S&P 500 up 0.5%, the Nasdaq up 0.8%, and the Dow climbing 0.3% before the labor data crushed the ￰2￱ 22,000 new jobs were created in August, far short of the 75,000 that analysts had ￰3￱ the unemployment rate edged up to 4.3%, as expected, the overall figures were weak enough to boost bets that the Fed will cut rates at its upcoming ￰4￱ are now split between a quarter-point and half-point rate cut, with both on the table, according to the CME FedWatch ￰5￱ reveals AI chip order and jumps 9% Meanwhile, Broadcom gave tech traders something to chew ￰6￱ chipmaker’s stock surged 9.4% on Friday after Hock Tan, the company’s CEO, revealed during an earnings call that a $10 billion order had been placed by a new customer for custom AI chips known as ￰7￱ order, Tan said, “came from one of these prospects who released production orders to Broadcom,” adding that the company had now recognized them as “a qualified customer for XPUs.” The deal boosted Broadcom’s forecast for AI-related revenue next ￰8￱ Tan did not name the buyer, analysts at Mizuho, Cantor Fitzgerald, and KeyBanc all pointed to ￰9￱ Financial Times also reported Thursday that Broadcom and OpenAI had co-designed a chip expected to hit the market in ￰10￱ a client note Thursday night, Cantor’s analysts wrote : “During the call, the company surprised us by noting that it had secured a $10B order from a fourth XPU customer (we believe this is OpenAI), adding significant upside to the company’s three current XPU customers (Google, Meta, and ByteDance).

Shipments are expected to commence in 2026.” Tech sees billion-dollar deals and robot contracts Away from the macro mess, tech stories still moved the ￰11￱ Thursday night, analysts at Cantor Fitzgerald said one chip company had landed a $10 billion order from a new XPU ￰12￱ analysts believe that buyer is OpenAI, which joins existing clients Google, Meta, and ByteDance. “During the call, the company surprised us by noting that it had secured a $10B order from a fourth XPU customer (we believe this is OpenAI), adding significant upside to the company’s three current XPU customers,” the note ￰13￱ from that deal are set to begin in 2026. Meanwhile, over in China, humanoid robots just broke a sales ￰14￱ manufacturer UBTech announced it secured a contract worth 250 million yuan ($35 million) for its Walker S2 robots.

That’s now the largest single order for humanoid machines ever ￰15￱ purchase cements China’s position in the fast-growing robot ￰16￱ Musk joined the robot conversation on ￰17￱ Tesla CEO claimed that his Optimus robots could eventually account for around 80% of his company’s total ￰18￱ he didn’t provide a timeline or details, that number raised ￰19￱ also spotlighted the growing commercial interest in machines powered by artificial ￰20￱ added their take a day ￰21￱ a note on Thursday, analysts at the bank pointed to a widening path for robot adoption. “The accelerating pace of commercialization, large-scale contract wins and ongoing supply chain ramp-up point to expanding market opportunities for leading players,” they ￰22￱ they didn’t stop ￰23￱ believes Chinese companies will come out ahead in the humanoid race, especially with their focus on faster rollout and lower ￰24￱ this year, CNBC reported that Chinese robotics firms were already ahead of ￰25￱ in getting humanoids out the ￰26￱ edge wasn’t just speed, they were also offering more competitive ￰27￱ robots, designed to look and move like humans, are being pitched for use in factories and ￰28￱ commercial push is no longer ￰29￱ money is flowing, and contracts are being ￰30￱ Bybit now and claim a $50 bonus in minutes