Investors will focus on a key labor market update next week. Persistent inflation and potential rate hikes could derail the US stock rally.
Broadcom's results will test the AI trade. The S&P 500 has risen for nine straight weeks, up over 10% this year. Tech stocks lead on AI optimism.
The monthly employment report on June 5 is crucial. Expected unemployment rate is 4.3% with 85,000 new jobs. A hot report could fuel rate hike fears.
Broadcom reports on Wednesday. Semiconductor stocks have surged recently. The 10-year Treasury yield is around 4.45%, posing a risk to equities.
