Friday Focus: Jobs, Chips, and a Big Week Ahead

Macro Takes Centre Stage

The US jobs report is dominating Friday's session. Fed's Hammack stated today that policy is not restrictive and inflation remains too high. That is a hawkish signal. Local contacts, according to Hammack, suggest now is the time to hike. Markets are digesting what that means for rate expectations heading into autumn.

AI and Chips in the Spotlight

NVDA is being called the AI boom's "buyer of last resort" by a prominent economist today. Analyst targets keep climbing — the consensus now sits at $327.13 with 57 Buy ratings. Options flow remains two-sided, with bears and bulls both active. Meanwhile MRVL targets rose to $285, with 39 of 44 analysts bullish on the name.

Lululemon Bears Double Down

Truist reiterated its Sell on LULU today, cutting the target to $82. That follows analyst chatter about "a thousand cuts" to its sales outlook. Short interest stands at 9.9% of free float. The analyst community is firmly aligned with bears here.

Boston Scientific Recall

BSX issued a spinal cord stimulator lead recall today over fracture risk. Medical device recalls can carry material liability. Watch the stock closely into the close.

UK Defence Reports Today

From London, Babcock International and Chemring Group both post results today. Babcock holds a £6.6bn market cap. Chemring prints at £1.9bn. Both sit in the UK defence space, which has attracted strong investor interest in 2026.

Earnings Week Begins Monday

GameStop reports Monday after the close. Short interest is 10.3% of free float — any surprise could spark volatility. Braze and ServiceTitan also report after the bell. Microsoft CEO Satya Nadella's $44M share filing adds to a headline-heavy end to the week.