Prof G Markets Notify me• Jun 9, 2026• 32:47Interview

Why A Hot Jobs Report Spooked Wall Street

From Prop G Markets

Ed Elson(Business, technology, and geopolitics analyst…, Prop G Markets)•John Foley(Guest)•Justin Wolfers(Economist)•Scott Galloway(Professor, NYU)

Executive Summary

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12 quotes

A massive influx of new equity supply (~$900B) from IPOs, offerings, and lockup expirations is likely to depress market prices.
The strong jobs report makes a Federal Reserve interest rate hike more probable, which would negatively impact growth and AI stock valuations.
AI stock valuations are highly vulnerable to small changes in interest rate expectations, leading to significant volatility.
Real wages are falling as inflation outpaces wage growth, which could negatively impact consumer spending and the broader economy.

The upcoming mega-IPOs (SpaceX, OpenAI, Anthropic) offer investors a chance to gain exposure to high-growth, transformative companies.
The underlying US labor market remains resilient, with consistent job creation providing a buffer against a severe economic downturn.
A Goldman Sachs index of non-AI S&P 500 companies may offer a more stable investment alternative to the volatile tech-heavy indices.

Google placed an order for 3 million chips from Intel.

The U.S. economy added 172,000 jobs in May, which was more than double the forecasted amount.

Following the strong May jobs report, the S&P 500 closed down almost 3% and the Nasdaq fell more than 4% on Friday.

Justin Wolfers asserts that AI-related stocks are vulnerable to significant price swings from small changes in interest rates.

Justin Wolfers believes the next interest rate move by the Federal Reserve is more likely to be an increase.

Meta is reportedly exploring a large equity raise to fund its AI initiatives.

Meta intends to spend $145 billion on AI infrastructure in the current year.

SpaceX is planning to raise $75 billion in its upcoming IPO, which would make it the largest IPO of all time.

OpenAI and Anthropic are expected to go public following SpaceX, with potentially larger fundraising amounts.

Google is conducting an $85 billion equity offering.

Anthropic's recent private funding round raised $65 billion.

OpenAI's recent private funding round raised $122 billion.

Processed Jun 9, 2026Daily intelligence brief → yt-dlp + mlx-whisper + Gemini