Market update for Friday May 8, 2026 Check out the Public app for incredible investing tools and to support the show (LINK) Follow us on Instagram (@TheRundownDaily) for bonus content and instant reactions. In today’s episode, Zaid covers: The April jobs report: 115,000 jobs added, unemployment steady at 4.3% CoreWeave sinking after earnings as AI infrastructure costs keep climbing IREN jumping on a major Nvidia-backed AI infrastructure deal Lime filing for IPO at a potential $2 billion valuation Rocket Lab rising after strong revenue, backlog growth, and progress on Neutron Cloudflare cutting 20% of its workforce as it shifts toward agentic AI Nintendo raising Switch 2 prices as AI-driven chip demand makes gaming more expensive

CoreWeave Sinks on Rising AI Costs, Cloudflare Cuts 20% of Workforce 

The Rundown

Public.com presents The Rundown, your daily market update in 10 minutes. My name is Zaid Admani and today is Friday, May 8th. In today's episode, we'll break down the surprisingly strong April jobs report. We'll also recap earnings from CoreWeave, Iron, Rocket Lab, and Cloudflare. Then stick around to the end of the show to find out why the AI boom is making gaming more expensive.

We got a great show for you today. Let's go. Stocks pulled back a bit on Thursday. The S&P 500 dipped 0.4%, while the NASDAQ was off by 0.1%. And I have to bring up the Dow here. It lost 0.6%. Now, long-time listeners know I'm a Dow hater, and right now is a great example of why. The Dow has been the worst performing index this year compared to the S&P and NASDAQ,

and it's because the index is only 30 stocks and doesn't have much exposure to AI and chip stocks, which is where all the money is going right now. And that's why Dow investors are getting left behind. The other thing that we got this morning is the April jobs report, and the numbers were solid. The economy added 115,000 jobs in April, roughly double the 55,000 economists were expecting. The unemployment rate held steady at 4.3%.

So the data is showing that the labor market is holding up despite fears of AI replacing jobs and an economic slowdown. And if the labor market continues to stay healthy, it could give the Fed cover to move forward with rate cuts later this year. What's interesting, though, is the market is only pricing in a 12% chance of a rate cut this year, but also a 12% chance of a rate hike.

CoreWeave Sinks on Rising AI Costs, Cloudflare Cuts 20% of Workforce

Read the full transcript

The candid version is on a podcast,
not the earnings call.

CoreWeave Sinks on Rising AI Costs, Cloudflare Cuts 20% of Workforce

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.