Pedestrians walk past a “hiring now” sign posted outside Wegmans in New York City.
Adam Jeffery | CNBC
My top 10 things to watch Friday, Jan. 10
1. Stock futures moved lower after the December jobs report came in much hotter than expected. The Dow was down more than 300 points, and the yield on the 10-year Treasury note jumped to around 4.78%, its highest level in over a year. The U.S. economy added 256,000 jobs last month versus expectations of 155,000. The unemployment rate fell to 4.1%.
2. Advanced Micro Devices was downgraded by Goldman Sachs. Once again, no sense that the chip designer is catching up to longtime Club name Nvidia in the artificial intelligence market. That’s why we exited our position in AMD late last year.
3. Taiwan Semiconductor Manufacturing Co. reported record quarterly sales that were well ahead of expectations, rising 34% year over year on the back of strong AI demand. Good news for TSMC customers Nvidia and fellow Club stock Apple.
