Strong May jobs report (172k vs 80k expected) raises probability of Fed rate hike to 70% for December, challenging new Fed Chair Kevin Warsh's view that strong growth doesn't cause inflation. Market sold off on good news as rate hike expectations rose.
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implicit
RUT
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CNBC
5.5
Financial Media
Steve Liesman 4.0
Financial Media
Steve Liesman 4.0
6/8/2026 8:36:09 PM
ndx
The market didn't like what it saw and the implications of it on Friday. The NASDAQ fell more than 4% on Friday, its worst day since April of last year.
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Probability of Fed rate hike this year at 70% this morning for December up from 44% before the Friday report
Steve Eisman is not a fan of the SpaceX IPO, citing extreme capital intensity (CapEx 215% of revenue in Q1 vs 42% in FY2023), the shift from Starlink to AI, and that Grok is not a world-class AI company. He argues the entire company is being bet on AI, not space or Starlink, and that AI is becoming a commoditized business with no moats.
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Some New Name Without Match
2.5
Other
Steve Eisman 8.5
Other
Steve Eisman 8.5
6/8/2026 8:36:09 PM
ndx
The NASDAQ had its worst performance since April of last year exactly one week before the SpaceX IPO. Retail selling of levered ETFs to free up cash for the IPO could create disproportionate pressure on the NASDAQ 100 and semiconductors.
USDA has confirmed a second screwworm case in Texas, 5 miles from the first. Secretary Rollins says the food supply is not at risk and the situation is being managed with sterile fly drops (10M/week), new facilities, and treatment options. On the farm economy, input prices had been coming down before the Iran conflict caused temporary increases in fuel and fertilizer.
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NDX
RUT
explicit
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2.5
3.0
3.0
6/8/2026 8:36:09 PM
wti
Before the Iranian conflict, fuel was down almost 25%. What the Iranian conflict has meant is a temporary increase in prices, but they're real.