Jobs Report, Broadcom Earnings Loom as Investors Weigh Sticky Inflation

Investors face a pivotal week starting June 1, 2026, as the May jobs report, Broadcom’s quarterly results, and fresh signs of sticky inflation test the AI-driven rally on Wall Street. The Dow Jones Industrial Average rose 1.5% last week, while the S&P 500 and Nasdaq Composite gained 1.8% and 2.6%, respectively. But momentum in tech stocks has cooled, and diplomatic efforts to ease Middle East tensions add uncertainty. Friday’s nonfarm payrolls report is expected to show 93,000 added jobs in May. Apollo economist Torsten Sløk sees no AI-driven layoffs yet, arguing cheap technology is boosting labor demand, a view echoed by BNP Paribas. Other labor-market data this week include JOLTS job openings on Tuesday and jobless claims on Thursday. Semiconductor designer Broadcom (AVGO) reports Wednesday, offering a key read on AI demand. Ciena (CIEN) reports Thursday. Palo Alto Networks (PANW) and CrowdStrike (CRWD) also release earnings. Sticky inflation remains a concern: April’s core PCE index rose 3.3% year-over-year, the biggest gain in over two years, while first-quarter GDP growth was revised down to 1.6%. Some analysts warn this may delay Fed rate cuts.