Amid rising U.S. unemployment, S&P 500 rally, forecasting a less
Highlights
Wall Street heaved a collective sigh of relief on Friday, interpreting rising U.S. unemployment figures as a buffer against tighter Federal Reserve policies.
The U.S. unemployment rate jumped to a surprising 3.8%, defying the economist forecast of 3.5% and marking its highest point in over a year.
ISM data indicated a smaller-than-expected contraction in U.S. manufacturing, but this sector is still shrinking for the ninth consecutive month.
Boosted by stronger-than-anticipated earnings, MongoDB and Dell Technologies shares leaped by 7% and 19% respectively. Notably, Lululemon Athletica’s stock rose by 1.9% post smashing Wall Street forecasts. Given the collective data, the market sentiment sways towards a bullish short-term outlook as traders and investors navigate through the nuanced economic signals.
Wall Street heaved a collective sigh of relief on Friday, interpreting rising U.S. unemployment figures as a buffer against tighter Federal Reserve policies.
The U.S. unemployment rate jumped to a surprising 3.8%, defying the economist forecast of 3.5% and marking its highest point in over a year.
ISM data indicated a smaller-than-expected contraction in U.S. manufacturing, but this sector is still shrinking for the ninth consecutive month.
Boosted by stronger-than-anticipated earnings, MongoDB and Dell Technologies shares leaped by 7% and 19% respectively. Notably, Lululemon Athletica’s stock rose by 1.9% post smashing Wall Street forecasts. Given the collective data, the market sentiment sways towards a bullish short-term outlook as traders and investors navigate through the nuanced economic signals.
Comment:
Federal Reserve rate hike concerns surge.
Apple’s stocks tumble amid China’s iPhone ban.
Defensive utilities signal risk-averse market mood.
Given the current economic landscape, mixed signals from major corporations, the looming rate hike uncertainty, and the escalating U.S.-China tech feud, markets are poised for heightened volatility. The overall sentiment leans bearish, with investors advised to exercise caution and closely monitor forthcoming data releases, particularly those that could influence the Federal Reserve’s decisions.
Apple’s stocks tumble amid China’s iPhone ban.
Defensive utilities signal risk-averse market mood.
Given the current economic landscape, mixed signals from major corporations, the looming rate hike uncertainty, and the escalating U.S.-China tech feud, markets are poised for heightened volatility. The overall sentiment leans bearish, with investors advised to exercise caution and closely monitor forthcoming data releases, particularly those that could influence the Federal Reserve’s decisions.
Comment:
S&P 500 boasts a weekly surge of 2.50%, marking its best performance since June.
Trading volumes on U.S. exchanges dip, with a 15% decrease from the recent 20-session average.
Federal Reserve’s potential dovish turn is a response to domestic data and global uncertainties.