Stocks Slump on Strong Jobs Report, Fedspeak and Rate Hikes, the Future for Meta's "Threads" 7/6/23
Carl Quintanilla and Jim Cramer discussed rate hike fears, courtesy of employment data that sparked a market sell-off\nand sent the 2-year note yield above 5% to a 16-year high. ADP said the private sector added 497,000 jobs in June, \nmore than doubling economists' estimates. The anchors also reacted to comments from Dallas Fed President\nLorie Logan and New York Fed President John Williams, both making the case for additional rate increases.\nAlso in focus: Treasury Secretary Yellen arrives in Beijing for talks with Chinese officials, market bright spots, \nMeta launches "Threads" in a direct challenge to Twitter -- how might monetizing the new app and disrupting \nthe ad market fit into the picture?\n\nSquawk on the Street Disclaimer