Top Market Events and Stock Movements to Watch on September 4
The stock market experienced mixed reactions following a stronger-than-expected August jobs report, which showed non-farm payrolls rising by 162,000 against expectations of 53,000. Bond yields increased while stocks dipped slightly as the data reinforced Federal Reserve concerns about inflation and potential rate hikes in September. Lululemon saw a significant drop after reporting weak sales and lowering its full-year revenue forecast to between $10.35 billion and $10.5 billion, down from previous guidance of up to $11.15 billion. Meanwhile, OpenAI introduced GPT-6 Astra as their most advanced AI model yet but faced scrutiny over past security incidents. Analysts adjusted price targets for several major companies: Mizuho lowered Intel’s target due to valuation concerns; Stifel raised Microsoft's and Salesforce's targets based on strong product momentum. Wells Fargo also increased its estimates for Merck and Amgen, citing improved drug sales forecasts.
Tickers: $AAPL $ADBE $AMGN $AMZN $CRM $CRWD $INTC $LULU $MRK $MSFT $PANW $ZS
Topics: AI developments bond yields CEO changes earnings reports jobs report price targets stock market reaction