Tech executives meet at the White House, Broadcom and OpenAI reportedly team up to build AI chips

Market Trends & Economic Indicators - The market anticipates the August jobs report will support a Federal Reserve rate cut later this month [1][2] - Economists expect the US economy to have added 75,000 jobs in August, with the unemployment rate rising to 43% from 42%, and hourly earnings increasing 03% over the prior month [3] - The market is positioned for a weaker jobs number, but a strong number (e g, 100,000-125,000 jobs added) could make a September rate cut less certain, depending on the upcoming CPI figures [23][25] - Tariffs may be feeding through to core goods inflation, while the strength of the US economy has already impacted core services inflation [26] Company Performance & AI Investment - Broadcom and OpenAI are partnering to build AI chips, potentially challenging Nvidia [10][11] - Broadcom's valuation is approximately $145 trillion, with roughly $130 billion being traded overnight, and the company reported approximately $16 billion in revenue for Q3 [11] - Broadcom's stock has increased 450% since 2023 and over 700% in the past 5 years [11] - Meta plans to spend at least $600 billion through 2028 in the US to build data centers and infrastructure to power the next wave of innovation [9] - DocuSign beat expectations with 92 cents earnings per share on $8006 million in revenue and raised its full-year revenue outlook to $319 billion to $32 billion [37][38] Retail & Trade - Open Door shares are up approximately 8450% in the past 3 months, driven by retail investors and social media buzz [35] - Lululemon cut its annual profit and sales forecast due to tepid US demand and tariff costs, with comparable sales in America falling 1% while international sales rose 15% [40][41] - The Supreme Court may rule against President Trump's authority to impose emergency tariffs, potentially leading to $150 billion to $300 billion in refunds to domestic importers [48][56]