[Chart courtesy of MarketWatch.com] The markets opened mixed, as the latest stats showed a weakening labor market ahead of Friday’s eagerly expected payroll report. ADP’s data confirmed less private payroll growth than hoped for in June, while at the same time weekly jobless claims numbers were higher than anticipated. To me, that is no surprise, since almost daily I am …
Powell’s Remarks And Tesla’s Triumph Drive Market Dynamics
[Chart courtesy of MarketWatch.com] The markets were in limbo this morning after Fed head Powell’s comments that progress on inflation has been made, but that he’s not ready to cut rates yet. That caused the indexes to vacillate with traders being unsure what to make of those remarks. He then added that “we want to be more confident that inflation …
AI’s Promise Amidst Economic Pessimism: A New Era For Tech And Productivity
[Chart courtesy of MarketWatch.com] A choppy opening marked the first day of trading in July. Despite tech stocks edging higher there seemed to be some rotation out of that sector, as Nvidia slipped some 3% and leading other compatriots like AMD and Broadcom lower. While some traders might dismiss the AI development as just another temporary mania, I think it …