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Top stories today:
- Fed minutes suggest “likely” 25 bps rate cut in Sep.
- U.S. job market sees largest markdown since 2009
- Anthropic’s Claude crosses $1M gross app revenue in 16 weeks
- Crypto companies spend 48% of all corporate money in 2024 election
- U.S. consumer electronics startups see slowest fundraising in decade
0. Data and calendar
All values as of 6 AM ET / 3 AM PT, other than S&P500 and NASDAQ close (4 PM ET / 1 PM PT).
All times are ET.
1. Fed minutes suggest “likely” 25 bps rate cut in Sep.
“Several” officials supported a 25-basis-point reduction in the target range.
“Vast majority” favored “[easing] policy at the next meeting.”
2. U.S. job market sees largest markdown since 2009
818K fewer jobs in the 12 months ending in March.
Average employment growth: down from 242K from to 174K.
Final figures are due early next year.
Data was initially delayed, but 3 banks called BLS and get the numbers directly.
Trump accused the government of “fraudulently manipulating Job Statistics.”
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