Mid-Training Analysis AOF Wall Street – Good jobs report is bad news for the Fed

(AOF) – Wall Street retreats, the publication of a much better than expected employment report reinforcing the scenario of an aggressive Fed. Not only did job creations exceed expectations, but the unemployment rate dropped unexpectedly. More worrying for the Fed, wages also rose faster than expected. The nightmare of any Central Bank fighting against inflation is to see the creation of a price-wage-price loop. In the wake of this publication, the 10-year rate jumped by 16 basis points. Around 5:30 p.m., the Dow Jones lost 0.46% to 32,575 points.

The Lyft title (+ 13.28% to 19.70 dollars) rose sharply on Wall Street after the company, Uber’s big rival, published better than expected results in the second quarter. Adjusted Ebitda thus amounted to 79.1 million dollars, an increase of 232% compared to the previous year, and well beyond the 10-20 million dollars that the company had previously announced. Its turnover of 990.7 million dollars is up 13% compared to the previous quarter and 30% compared to last year.

Today’s economic figures

The United States created 528,000 jobs in July against 250,000 expected. The May and June figures were revised from 384,000 and 372,000 to 386,000 and 398,000 respectively. The unemployment rate fell to 3.5%, whereas it was expected to be stable at 3.6%. The average hourly wage increased by +0.5% in July, compared with a consensus of +0.3%.

The values ​​to follow today

Amazon

Amazon has announced the acquisition of iRobot, a specialist in robot vacuum cleaners, for approximately $1.7 billion, including debt. The e-tailer is offering $61 per share in cash, compared with a closing price of $49.99. “iRobot has always made life easier for its customers with innovative household cleaning products. iRobot has continued to innovate with each generation of products, solving tough problems to help customers regain valuable time in their day. “emphasized Amazon.

Beyond Meat

The title of Beyond Meat was still losing ground in the exchanges before the stock market after issuing a warning on its annual revenues and announcing the reduction of 4% of its workforce. Under the second quarter, the Californian firm suffered a net loss of 97.1 million dollars (against 19.7 million a year ago), at 1.53 dollars per share against a consensus of 1.18 dollars. Sales fell 1.6% to $147 million. The level of cash, also down, stood at 455 million dollars against 548 million dollars.

Tesla

According to Reuters, Tesla shareholders on Thursday voted in favor of the board’s recommendations on most of the proposals at the annual meeting, including re-election of directors and the three-point stock split, but rejected proposals focusing on environment and governance. The title took 0.44% in pre-market trading.

Lyft

For the second quarter ended June 30, 2022, Uber rival Lyft reported adjusted net income of $46.4 million, compared to an adjusted net loss of $18 million in the second quarter of 2021. The stock of Lyft was up 5.1% at $18.28 after the close on Wall Street on Thursday (August 4).

Warner Bros Discovery

Warner Bros Discovery has formalized the merger between HBO Max and Discovery, with the firm planning to launch this new streaming service in the summer of 2023 in the United States and a year later in Europe and Asia. This announcement comes as the group has just announced a net loss of 3.4 billion dollars in the second quarter. Its adjusted Ebitda came to 1.664 million dollars against 1.117 million a year earlier. Its turnover, down 1%, amounted to 9.82 million dollars.