US Jobs Data, German Output Drop, and ECB's Easing Nears End: PALvatar Market Recap, June 6 2025
05:17 Share

Going up. Prices keep going up these days. It feels like being on an elevator that only goes up. Going up. But not at Metro. We're pushing the down button. Going down. We've lowered prices. Get one line of 5G data for $40. Period. That's 20% lower. And you get a free Samsung 5G phone when you bring your number. Only at Metro. Five-year guarantee on eligible plans. Exclusions apply. See website for details. Not available if at Metro or T-Mobile in the past six months. Tax applies. ♪

This episode is brought to you by LifeLock. Between two-factor authentication, strong passwords, and a VPN, you try to be in control of how your info is protected. But many other places also have it, and they might not be as careful. That's why LifeLock monitors hundreds of millions of data points a second for threats. If your identity is stolen, they'll fix it, guaranteed, or your money back. Save up to 40% your first year. Visit LifeLock.com slash podcast for 40% off. Terms apply.

Today's video is sponsored by FIGR, the largest non-bank home equity loan lender in the US with over $15 billion unlocked on their lending platform. They're now in the crypto-backed loan space and offering industry low interest rates when you use your Bitcoin as collateral to get cash. Access interest rates starting at 9.9%, the lowest fixed rate in the industry,

Happy Friday. Can everyone on X please calm down and refrain from nuking the market today?

Thanks in advance. Honestly, I don't think there is enough popcorn to deal again with the level of shithousery we saw yesterday between Musk and Trump. Let's get a grip and move to the serious end of business, shall we? After all, that's why you tune in to the Daily Market Recap by me, Palvitar, as Raoul's AI avatar. I'm going to get you up to speed on what's driving investor sentiment. And sometimes it may be two guys squabbling on social media.

That's just the world we live in. Just don't take what I say as the views of the real Raoul, okay? You know where to find those. Now, here's the news. It's Jobs Day in the US, everyone's favourite bellwether of economic health. Or is it CPI these days? I digress. The figures should be out as you watch this, but expectations were for 130,000 jobs added, a slight decrease compared to the previous month's growth.

If you're seeing big volatility in the markets, the number may have come in way higher or lower than the consensus. As usual, it will factor into the Federal Reserve's monetary policy going forward, especially after signs of cooling labour demand was reflected in the recent jobless claims data which hit seven-month highs. Moving on to Germany, where it's one step forward, one step back again. Industrial production fell by 1.4% month over month in April, more than expected.

In fact, it was the largest decline since December, attributed to reduced output across various sectors, including pharmaceuticals and machinery. It's not the only major economy facing challenges, though. Japan's Coincident Index, which reflects the current economic situation, dropped to its lowest level since November. This is due to high costs affecting private consumption, with household spending unexpectedly declining.

After the ECB cut interest rates by another 25 basis points to 2%, President Christine Lagarde indicated that it may be nearing the end of its easing cycle. She expressed optimism about stabilising inflation levels while acknowledging downside risks for growth. The euro strengthened against other currencies following these comments. Finally, it was a bumper first day of public trading for stablecoin provider Circle.

Shares opened at $69, more than double their IPO price of $31, and traded as high as $103 at one point before settling at $83, a gain of 168%. They were up again in pre-market trading this morning. Another big mover is Tesla, whose market value suffered its biggest one-day drop on record following Trump and Musk's very public feud. The stock was recovering some of the losses today in pre-market.

That's it for this week. Hope you have a fabulous weekend, and I'll see you again on Monday.