The report follows a tech selloff that erased about $447 billion from Nvidia's market value, but reports no change to its business. Job growth and falling unemployment could support spending, while faster pay growth points the other way.
For Nvidia, the report gives no update on sales, orders, or costs. More hiring could support customer spending, but faster pay growth may add pressure on prices and borrowing costs. The story also follows a sharp tech selloff, yet it does not link that drop to a change in Nvidia's business.
The report notes that the Nasdaq 100, tracked by QQQ, fell 6.4% the previous day, but does not link that drop to new information about the fund. Job growth and falling unemployment could support spending, while faster pay growth points the other way.
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