Apple Pre-WWDC Volatility and Meta’s Capex Dilution Jitters

Tech sector volatility is driving the narrative today as markets continue to process the fallout from the latest U.S. employment report, where a hotter-than-expected 172K non-farm payrolls print and a steady 4.3% unemployment rate have revived expectations of restrictive central bank policy [1][2]. Adding to the macro backdrop, the New York Fed's latest consumer survey shows a slight easing in one-year inflation expectations to 3.5% [3], though longer-term three- and five-year expectations remain stubbornly anchored above 3% [4][5]. This mix of tight labor market dynamics and sticky inflation expectations is keeping the broader risk appetite somewhat guarded. Within equities, we…