09 Oct 2023 – US stocks rallied Friday even after the release of stronger-than-expected US jobs data and a pop in Treasury yields. The US economy added 336,000 jobs in September, the Labor Department said. Economists polled by Dow Jones expected 170,000 jobs.
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US stocks rallied Friday even after the release of stronger-than-expected US jobs data and a pop in Treasury yields. The Dow Jones Industrial Average gained 288.01 points, or 0.87 per cent, to close at 33,407.58. The S&P 500 added 1.18 per cent at 4,308.50. The tech-heavy Nasdaq Composite rose 1.60 per cent, closing at 13,431.34.
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Global oil prices are expected to rise on Monday morning following a shocking attack by the Hamas terrorist group in southern Israel. The situation is further exacerbated by news of an Egyptian policeman opening fire on Israeli tourists, resulting in at least two casualties, and reports of Hezbollah’s involvement from southern Lebanon. This upward push
Global oil prices surge amidst middle east tensions Read More »
The perverseness of investors was once again underscored on Friday by their positive reaction to the much stronger US jobs report for September, a rise in bond yields, and an apparent acceptance that the Fed’s much-feared “higher for longer” monetary policy setting could persist for an extended period. Fears of such an outcome—a stronger-than-forecast number
Investor sentiment surges despite strong US jobs report and rising bond yields Read More »
America’s third-quarter earnings season kicks off this week, and by week’s end, there should be more than a hint of what to expect in six weeks when reporting wraps up. With the higher path for bond yields now seeming more acceptable to most investors (after Friday’s performance), the earnings season will influence how investors perceive
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The health of the Chinese economy is back in the spotlight this week as the country emerges from its week-long holiday break. Car sales and loan data are set to release on Wednesday, followed by crucial inflation and trade data on Friday. The third-quarter GDP and other investment, retail sales, and production data will be
Chinese economy in focus: Key data and global events this week Read More »
After Friday’s surprisingly strong jobs data for September, another test for US market sentiment and momentum awaits this week with the release of September’s consumer and producer price inflation data. It has become a monthly ritual, akin to last week’s jobs data, as confusion and fears regarding interest rates and the Fed’s monetary policy stance
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