AI trade stalls, 'ghost job' listings, Trump floats tariff rebate checks and more in Morning Squawk
The trading landscape is currently marked by contrasting performances, with the Dow Jones reaching a record high while key AI stocks struggle. The potential end of the government shutdown raises questions about the timely release of economic data, particularly job market statistics, with concerns about 'ghost job' postings surfacing. Meanwhile, President Trump's proposal for tariff rebate checks could face significant hurdles, as analysts caution against its inflationary impacts. In the digital asset realm, a Senate draft bill aims to establish regulations that could boost cryptocurrency adoption, while the Swiss sportswear firm On reported strong earnings without needing promotional discounts. Looking ahead, market observers remain focused on the evolving economic indicators and corporate earnings reports.
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The Dow Jones Industrial Average closed at a new record, contrasting with the Nasdaq Composite, which did not share in these gains due to poor performance from major AI stocks.
If the government shutdown concludes, the Bureau of Labor Statistics could provide a timeline for future data releases, but immediate access to the data will be delayed as agencies work to catch up.
The term 'ghost job' refers to unfilled job postings that could indicate a disconnect in the labor market, as some sources suggest softening employment conditions.
Trump's proposal for a $2,000 tariff rebate check for Americans, excluding high-income individuals, is considered unlikely to materialize soon, with potential inflationary risks noted by experts.
The Senate Agriculture Committee's draft bill for digital assets outlines a regulatory framework, which experts perceive as a significant step toward institutional adoption of cryptocurrencies.
Swiss sportswear company On exceeded earnings expectations and raised its guidance, reporting it would not need to offer discounts to sustain demand, resulting in a nearly 9% premarket share price increase.
Oura, the smart ring manufacturer, raised $900 million last month and anticipates $2 billion in sales by 2026, although there is currently no information regarding a potential IPO.