The stock market slid on Friday after a stronger-than-expected jobs report sent Treasury yields higher and dampened expectations for near-term interest-rate cuts by the Federal Reserve.
August payroll data showed that employers added 162,000 jobs last month, far exceeding economists’ expectations of 55,000. This raised concerns that the Federal Reserve may keep interest rates elevated for longer or even consider another rate hike.
Overall, S&P 500 fell 0.4% to 7,719, while Nasdaq declined 0.3% to 26,507.
Chart of the Day
Here is the one-year chart of Arm (ARM) as of August 24, 2026, when the stock was at $239.
However, it will take years to ramp up manufacturing, so current results are just ok, not great.
Last quarter, Arm delivered 29% profit growth — up from just 9% 2QtrsAgo — on 22% revenue growth. That’s a fair quarter.
Management said they saw strong demand for its new AGI CPU. The AGI CPU had already generated more than $2 billion of customer demand, up from the $1 billion pipeline Arm discussed 2QtrsAgo.
Still, with a P/E of 107, this stock is expensive. But if future estimates come to fruition, the stock could compound in value.
ARM is part of the Growth Portfolio.
