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Markets Close Week Mixed After Weak Jobs Report
U.S. stocks ended the week on a cautious note after a disappointing August jobs report raised fresh concerns about the strength of the economy, even as expectations for a Federal Reserve rate cut later this month solidified.
For the week, the Nasdaq rose 0.32%, marking its fifth straight weekly advance, while the S&P 500 slipped 0.12% and the Dow fell 0.32%.
The labor market was the key focus.
The U.S. added just 22,000 jobs in August, well below forecasts of 75,000, and the unemployment rate ticked up to 4.3%. Slowing hiring and moderating wages reinforced the case for rate cuts, with traders now betting the Fed could move by as much as half a point.
Sector moves reflected the mixed backdrop. Banks like JPMorgan and Wells Fargo fell on fears of weaker loan growth, while Boeing and GE Aerospace lost ground on concerns over demand. But tech showed more resilience with Broadcom surged 9.4% on strong earnings.
Stock market closing data for the week of Sep 1st to Sep 5th, 2025
News Summaries
Apple Sales in India Hit Record $9 Billion
Apple’s (NSQ: AAPL) annual sales in India reached nearly $9 billion in the last fiscal year, about 13% higher than the year before. iPhones continued to lead demand, but MacBook sales also added momentum.
The push comes as Apple looks for growth outside its saturated markets.
In India, it has been steadily expanding its retail with two new stores opened in Bangalore and Pune, with more expected in Noida and Mumbai. The decision last year to carve out India as a separate sales region highlights how seriously Apple views the market, where rising incomes and a growing middle class are driving demand.
At the same time, Apple is making India central to its supply chain. One in five iPhones is now manufactured locally, supported by five plants. This shift reduces reliance on China, where Apple faces tough competition from domestic rivals.
Basically, India is no longer just a promising frontier for Apple. It is evolving into both a growth market and a manufacturing hub, giving the company a dual advantage for the years ahead.
Figma Shares Slide After First Earnings Report Since IPO
Figma’s first earnings update as a public company turned into a reality check for investors.
The stock tumbled over 20% this week, even though the design software firm beat estimates. Revenue for the second quarter rose 41% to $249.6 million, and the company swung to a modest profit of $846,000 from a huge loss a year ago.
Guidance was also encouraging. Management expects third-quarter revenue of $263 to 265 million, ahead of analyst forecasts, and full-year revenue just over $1.02 billion, which would mean 37% growth. Figma continues to expand its base of large customers, now more than 1,100, though net retention slipped to 129% from 132% last quarter.
Yet, the excitement around the numbers was overshadowed by investor concerns. With lock-up expirations ahead, 25% of employee shares become tradable this month, and another big chunk only in 2026. That overhang, coupled with questions on how quickly AI tools like Figma Make and Sites can be monetized, kept traders cautious.
Essentially, Figma’s share price shows how investors are balancing near-term pressures with the company’s longer-term growth story.
Broadcom Soars on $10B OpenAI Chip Deal
Broadcom’s (NSQ: AVGO) shares surged 9.4% on Friday, marking their biggest one-day rally since April, after the chipmaker confirmed a major custom chip partnership with OpenAI.
The deal, valued at more than $10 billion, will see Broadcom design and produce AI accelerator chips, a market currently dominated by Nvidia.
The accelerators are expected to start shipping in 2026, though Broadcom CEO said production orders will begin next year. OpenAI, facing a shortage of computing capacity, plans to use the chips internally first before expanding to broader use cases.
The news sent Broadcom’s market value up by $135 billion, even as Nvidia’s stock slipped 2.7% on fears of intensifying competition. The deal was hinted at during Broadcom’s quarterly earnings release, where Tan raised forecasts for AI revenue growth in fiscal 2026, calling demand from the new client “immediate and substantial.”
Broadcom has become a key player in AI infrastructure, with semiconductor sales reaching $5.2 billion last quarter and projected to rise to $6.2 billion in the fourth. The company is betting that demand from customers like OpenAI will keep AI revenue growing at more than 50% annually, while also upgrading networking equipment to handle the surge in AI workloads.
From the World of Crypto
PayPal Expands Crypto Push With “Pay with Crypto”
PayPal (NSQ: PYPL) has launched its new Pay with Crypto feature for US merchants, letting customers pay in over 100 digital assets, including Bitcoin, Ether, and Solana, as well as stablecoins such as USDC, USDT, and PayPal’s own PYUSD.
Shoppers connect external wallets like MetaMask or Coinbase Wallet at checkout, while merchants receive instant settlement in either US dollars or PYUSD, avoiding exposure to price swings.
For businesses, the tool brings lower fees and faster payouts.
PayPal is currently charging 0.99% per transaction until mid-2026, compared with the 1.5% to 3.5% range for card payments. Merchants who choose to hold balances in PYUSD can reportedly earn around 4% APY, turning settlement proceeds into yield. With over 15 million active business accounts globally, the service could help small and medium firms reach cross-border buyers more easily.
On the consumer side, checkout now feels as seamless as paying with a card, with PayPal handling crypto-to-fiat conversion in the background. That expands real-world use cases for digital assets beyond speculation.
Basically, PayPal’s actions now reflect how the company is positioning itself as a bridge between fiat and Web3, giving merchants a low-friction way to accept crypto while tapping into a $3-trillion digital economy.
Key headlines of the week
Jane Street Nets Record $10.1B Amid Trade Volatility | Jane Street pulled in $10.1B in net trading revenue in Q2, more than doubling from a year earlier and surpassing Wall Street’s biggest banks. First-half revenue hit a record $17.3B as tariffs and market upheaval spurred volumes. Net income surged to $6.9B, up from $2.4B last year, though regulators in India are scrutinizing its options trading business.
Hon Hai Sales Jump on AI Server Demand | Nvidia partner Hon Hai (Foxconn) reported August revenue of NT$606.5B ($19.8B), up 10.6% year-on-year, driven by surging AI server shipments. The company expects Q3 sales to grow sequentially and year-over-year, even as iPhone demand softens. Hon Hai is expanding AI server production in Wisconsin and Texas to sidestep US tariffs, while still depending heavily on Apple.
Warner Bros. Sues Midjourney Over IP Theft | Warner Bros. Discovery filed suit against AI startup Midjourney, alleging unauthorized use of its characters like Superman and Wonder Woman. The company says Midjourney customers generated and shared copyrighted images across Reddit, Discord and Instagram. Warner Bros. is seeking damages of up to $150,000 per infringement, echoing earlier lawsuits from Disney and Universal over AI training data.
