Meta Plans a Cloud Business, US Jobs Day | The Opening Trade 7/2/2026

Meta announced a plan to sell computing power to customers, which some traders viewed as a signal of excess capacity in the chip sector. The US jobs report will be released at the end of a holiday-shortened week, providing economic data for analysis of Federal Reserve interest rate decisions. Federal Reserve Chair Kevin Warsh made comments on Wednesday regarding interest rate policy. The report comes as traders monitor movements in chipmaker stocks following sustained gains tied to artificial intelligence infrastructure spending.

Next story