Global Markets React to Soft US Jobs Data Amid Geopolitical Shifts and Tech Sector Moves

Key Intelligence

• ■US employers unexpectedly shed jobs, leading to a rally in US Treasuries and a weaker dollar as markets tempered expectations for Fed rate hikes.
• ■Geopolitical tensions are evident with new US sanctions on Russia, Ukraine advised against targeting Black Sea oil sites, and the EU advancing defense-focused sovereign satellite programs.
• ■Defense spending is increasing, as the US Army plans to spend $400 million on counter-drone lasers, and the Pentagon is funding a secret 'Golden Dome' space program.
• ■Major tech investments continue with SK Hynix announcing a $38 billion chip factory expansion in Korea and SpaceX nearing its IPO price after a significant rally.
• ■Regulatory and trade issues are also prominent, including a $567 million court order against Meta for child safety, CFTC warnings to prediction markets, and Canada's efforts to avoid new US tariffs.