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Susan Li reports that U.S. interest rate futures have reduced the perceived likelihood of a Federal Reserve rate hike in September following the release of jobs data.
According to Susan Li, U.S. rate futures are now pricing in just a 28 basis point hike by December, compared to 32 basis points before the jobs data.
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Earlier, Susan Li reported that Apple expects revenue to grow 9% to 11% in the September quarter, citing a forecast from the company's CFO (Apple CFO expects September quarter revenue growth of 9% to 11% year over year). In a separate development, she detailed Apple's lawsuit against OpenAI and a company executive for allegedly misusing trade secrets (Apple sues OpenAI and its executive over trade secrets, Susan Li reveals). These updates provide additional context to the shifts in market expectations reflected in the latest rate futures pricing.