Nonfarm Friday: June Jobs and Warsh's Sintra Speech Will Set the Summer Rate Path
The Nasdaq shed 4.6% last week as AI/chip stocks were battered by cost concerns and hawkish Fed repricing under Chair Warsh. This week's June payrolls report (Thursday, July 2) and Warsh's Sintra speech (Wednesday) will determine whether the summer rate path leads to a July hike or a hold.