[Chart courtesy of MarketWatch.com] With the much-anticipated jobs report out of the way, but Wall Street still pondering its implications, the new focus is on the Fed’s interest rate decision and last month’s inflation data. Both are due out Wednesday with the CPI potentially being a crucial point for market direction. Especially, after Friday’s allegedly strong jobs report, the Fed …
Wall Street Waits With Bated Breath: May Jobs Report To Set Fed’s Course?
[Chart courtesy of MarketWatch.com] The markets predominantly trod water after the S&P’s fresh record close, with traders’ eyes now focused on tomorrow’s jobs report. Friday’s non-farm payrolls report for May will be analyzed carefully, because any weakness in the labor force will freshen hopes that the Fed might indeed cut rates. Expectations are for 190k in new jobs created. Optimism …
Nvidia Hits New Record And Surpasses $3 Trillion Market Cap, Igniting Bullish Sentiment
[Chart courtesy of MarketWatch.com] Nvidia’s jump to a new record, while conquering the $3 trillion market cap, sparked bullish sentiment, at least in the Dow and S&P 500, both of which headed higher right after the opening bell. The latter scored a new all-time high late in the session, as the 10-year yield slipped to 4.29%. With traders looking everywhere …
Market Volatility Intensifies As Bulls And Bears Battle For Control
[Chart courtesy of MarketWatch.com] The major indexes continued their efforts to overcome a listless start to June, and they started this session by being stuck to their unchanged lines, until a last hour surge pushed them to a green close. On the economic side, employment data from the Labor Department showed some 8 million job openings in April vs. …
Salesforce’s 20% Drop And Inflation Anxiety Set Bearish Tone For Major Indexes
[Chart courtesy of MarketWatch.com] The major indexes started this session deep in the red, with Salesforce’s 20% drop due to a revenue miss and weak guidance setting a bearish background, while upcoming key inflation data created anxiety on the trading floors. Despite this being a holiday shortened week, the major indexes are modestly in the red and seem to be …
Dow Dips Over 1% As Nvidia’s Volatility Shakes Wall Street’s Confidence
[Chart courtesy of MarketWatch.com] All focus was on Nvidia, with the tech darling dumping and pumping and having a volatile session. It vacillated sharply around its unchanged line and was in danger of scoring its first negative session since its blowout earnings. In the end, the stock closed higher by a scant +0.8%, but it hit a new record high. …