Did you know that the U.S. government accounts for just 13% of the nation's workforce, while the private sector dominates with 87%?

Understanding where job growth comes from is key in today’s economy, especially for investors looking to separate facts from myths.

Here are today’s articles:

• Misinformation About Job Growth: First, despite political narratives, most new jobs are not created by the government 🤔

• The Market Still Expects A Rate Cut In November: Next, the market remains confident that a rate cut is on the horizon 📅

• Nvidia Shares Are Rising On Thursday After Management Said Demand For Its Next Generation GPU Blackwell Is Strong: Finally, Nvidia’s stock continues to climb as their next-gen GPUs are booked out 🚀

Get ready for fresh insights that can help your investments in today’s evolving market. Let’s go!

Misinformation About Job Growth 🤔

Some who oppose the Biden administration have created a myth that all the job growth is coming from government jobs.

To be a good investor, it's critical to check your political feelings at the door and be a truth seeker.

New jobs are mostly being created by the private sector, not the government 👷

In the latest employment report, which was for September, there were 254,000 new jobs created—223,000 of those jobs are private sector jobs and 31,000 were government jobs.

That means 12.2% of the jobs created in September were government jobs.

That’s slightly below what should be expected.

Of all jobs in the United States, 13% are government jobs and 87% are private sector jobs.

While it's objectively true that government spending should be reduced and our budget deficit needs to shrink, government hiring is not making job growth artificially strong 👎

The Market Still Expects A Rate Cut In November 📅

Despite the higher than expected inflation number yesterday, the Fed Funds Futures market still assigns an 84% chance of a 25bp interest rate cut at the November 7 FOMC meeting.

The 10-year Government bond yields drifted higher to 4.08% but the 2-year yield is anchored at around 3.97%

This reflects the market’s belief that a rate cut is still the base-case scenario at the next Fed meeting 👍

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Nvidia Shares Are Rising On Thursday After Management Said Demand For Its Next Generation GPU Blackwell Is Strong 🚀

In a note published Thursday, Morgan Stanley analyst Joe Moore said his firm hosted Nvidia CEO Jensen Huang and other members of the company’s management team this week for a series of meetings with investors.

The analyst said the executives revealed Nvidia’s Blackwell GPU products are “booked out 12 months,” which means if a customer puts in an order today they won’t receive the product until late next year.

A string of recent gains has left Nvidia close to its record closing high—adjusted for stock splits—of around $135 💰

The focus continues to be on growth in its data-center revenue powered by investment in AI technology.

The future continues to look bright.

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