Akamai (AKAM), Veeva (VEEV), Zeta Global (ZETA) Fall as Strong Jobs Data Dims Rate Cut Hopes

Shares of Akamai Technologies (AKAM), Veeva Systems (VEEV), and Zeta Global Holdings (ZETA) declined on June 6, 2026, after a stronger-than-expected U.S. jobs report diminished the likelihood of Federal Reserve interest rate cuts. The U.S. economy added 272,000 nonfarm payroll jobs in May, far exceeding the 85,000 economists had forecast, while the unemployment rate held at 4.3%. The robust data signaled resilience but pressured growth-oriented technology stocks by making future earnings less valuable in present terms. Akamai's stock fell, though the move was not seen as fundamentally altering its business. The shares have gained 75.6% year-to-date and trade near their 52-week high of $161.14. A similar drop occurred 24 days earlier after a hot CPI report similarly dampened rate-cut expectations.