ETF Tracker StatSheet You can view the latest version here. STRONG JOBS REPORT SHAKES RATE CUT DREAMS, BOND YIELDS LEAP [Chart courtesy of MarketWatch.com] Traders’ dreams for an interest rate cut were dashed this morning, as the jobs report came in stronger than expected. Nonfarm payrolls allegedly increased by 272k last month, considerably above expectations of 190k and April’s …
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. …
ETF Tracker Newsletter For May 31, 2024
ETF Tracker StatSheet You can view the latest version here. CONSUMER SPENDING STUMBLES: INFLATION THREAT LOOMS [Chart courtesy of MarketWatch.com] The major indexes started the last day of May in mixed mode, with the Dow being little changed, while the S&P 500 and Nasdaq meandered below their respective unchanged lines. However, an afternoon melt-up pulled the Dow and S&P …
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 …