U.S. stocks eye jobs data as Big Tech and cybersecurity shares stay in focus

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Highlights

Traders await the August U.S. jobs report, with Dow Jones consensus estimating 53,000 jobs added and Kalshi odds split above key thresholds.
Amazon rose 1.5% Thursday, up 32% from its February low, while other Magnificent Seven tech stocks showed mixed performance versus recent highs.
Zscaler surged 15% over the past month after exceeding earnings estimates, fueled by rising cybersecurity demand due to artificial intelligence-related hacking concerns.

Jobs report and market agenda

As reported by CNBC, traders are centering on the August U.S. jobs report, with the Dow Jones consensus estimate calling for 53,000 positions created. The data is due at 8:30 a.m. ET and is being watched as a potential driver for the next trading session after the Dow's strongest day since early August.

Prediction market platform Kalshi is also reflecting close expectations around the release. Its market shows 47% expecting a reading above 50,000 jobs, 42% above 60,000, 27% above 70,000 and 24% above 80,000.

CNBC also says National Economic Council Director Kevin Hassett is due to appear, adding to the policy backdrop investors are monitoring alongside the labor data.

Tech, media and cybersecurity names in focus

Large-cap technology stocks are remaining central to market positioning, with CNBC's Jim Cramer highlighting the so-called Magnificent Seven. Amazon rose 1.5% on Thursday and is up 32% from its February low, while Apple is up 2.6% week to date and 8% over the past month, though still nearly 5% below its July 29 high.

Meta Platforms is up 5.7% in four days but remains 23% below its peak from last September. Tesla has gained almost 8% in four days and is still 25% below its December 2025 high, Nvidia is up 5% over four days and sits 3% below its May high, Microsoft has added 4.6% in a month but remains down 8% from its October 2025 high, and Alphabet is down 1% week to date and 16% below its May high.

Outside Big Tech, Hollywood revenue is approaching a record summer, though the gains are being driven by higher ticket prices while total admissions remain below pre-Covid levels. Imax shares are up 33% since the start of summer, Cinemark has climbed 18%, and Marcus Corporation has gained 41%, although all three are trading below recent highs.

Zscaler is also drawing attention after beating earnings estimates and guidance expectations as customers increase spending on cybersecurity protection amid concerns about artificial intelligence-linked hacking attempts. The stock is up 15% over the past month and is marginally lower after hours.

In our earlier article on the August U.S. employment report, we explained why some economists saw downside risks to payroll growth tied to changes in work authorization for Haitian nationals, particularly in labor-intensive service sectors. We also summarized the market’s base-case expectations for about 53,000 jobs added and unemployment near 4.1%, alongside scenario-based forecasts for how the S&P 500 could react depending on the headline payroll number.

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