Investors are closely watching President Trump’s Fed pick, Stephen Miran, as he goes through the confirmation process. Concerns about Fed independence and government debt are causing pressure on Treasury yields and stocks. Goldman Sachs predicts gold could reach $5,000 per ounce, while the ADP jobs report shows sluggish growth.

The AI sector is experiencing significant sell-offs, with key companies like Salesforce, C3.ai, and Figma disappointing investors with their earnings reports. This downturn may signal the end of the hot AI trade, raising concerns about demand and economic growth.

Market optimism hinges on expectations of Fed rate cuts through 2026, but concerns about inflation and tariffs remain. The latest ADP jobs data, showing only 54,000 jobs created in August, could impact the upcoming government jobs report. The consensus forecast for August’s job creation is around 80,000.

Gold prices continue to climb, trading at around $3,600 an ounce. Goldman Sachs predicts potential for prices to exceed $5,000 if governments increase their gold purchases. The new CEO of C3.ai, Stephen Ehikian, aims to leverage his tech background to drive growth in the company.

As tech remains a key focus, the dynamics between C3.ai’s new CEO and founder, Thomas Siebel, will be crucial. Improving sales team execution and restoring investor confidence are top priorities for the company. Stay tuned for updates from the Goldman Sachs Communacopia tech and media conference next week.

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