Jobs Boom Nukes the Rally: Nasdaq Posts Worst Day in a Year as Rate Hike Bets Surge
A scorching jobs report, Broadcom's AI miss, and SpaceX's historic IPO collide in the week's most chaotic market session in over a year
Ticker Ratings
| Ticker | Rating | Entry Price | Current | $ Gain | % Gain |
|---|---|---|---|---|---|
| AVGO Broadcom Inc. | hold | $385.02 | — | — | — |
| AMD ADVANCED MICRO DEVICES INC | hold | $458.66 | — | — | — |
| MU MICRON TECHNOLOGY INC | hold | $857.20 | — | — | — |
| CMG CHIPOTLE MEXICAN GRILL INC | buy | $29.35 | — | — | — |
| BTC Grayscale Bitcoin Mini Trust ETF | sell | $60742.00 | — | — | — |
| SPCE Virgin Galactic Holdings, Inc | sell | $4.37 | — | — | — |
| HON HONEYWELL INTERNATIONAL INC | buy | $213.30 | — | — | — |
| ZTS Zoetis Inc. | hold | $79.02 | — | — | — |
| MRK Merck & Co., Inc. | hold | $120.00 | — | — | — |
| ELAN Elanco Animal Health Inc | buy | $23.46 | — | — | — |
| FLUT Flutter Entertainment plc | buy | $100.00 | — | — | — |
The week Wall Street got exactly what it wished for and immediately regretted it. May nonfarm payrolls printed 172,000 — a blowout — unemployment held at 4.3%, and the market's response was to absolutely lose its mind. The Nasdaq 100 fell ~4%, its worst single day since April 2025. The Philadelphia Semiconductor Index cratered over 9%. $AMD dropped 8.8%, $MU fell 9%, and $AVGO took a ~14% hit on the week after Q3 AI guidance of $16 billion came in below the $17.2 billion consensus. The bar was high. Broadcom tripped over it.
Meanwhile, $BTC is down roughly 50% from its $126K peak to around $60,000, with the average ETF holder sitting at an ~$83K cost basis — firmly underwater. Ray Dalio called the US debt situation 'past the point of no return' on Bloomberg. Ed Yardeni, ever the optimist, called Friday's carnage 'healthy' and reiterated his S&P 8,000 target. And SpaceX quietly filed a $75 billion IPO at $135/share targeting a $1.75 trillion valuation — already oversubscribed — making it the largest IPO in history before it's even priced.
Rotation was the only trade that worked: $CMG popped 4%+ on a JPMorgan upgrade, Macy's posted its strongest Q1 in four years, and healthcare held firm. Sometimes the best week is the one where you owned the boring stuff.