- 04 Aug '23 at 11:07 am #63475
U.K.’s July Construction PMI 51.7 (expected 48.0; last 48.9)04 Aug '23 at 11:08 am #63476
The U.S. labor market continues its resilience in July with U.S. employers adding 187,000 workers in July, lower than expected. The ADP Employment Report for July (actual 324,000; consensus 190,000) released a day ahead of the BLS employment report. The ISM services employment index rose to 50.7 vs 53.1 prior. Expectations ranged between +140K and +300K nonfarm payroll jobs added, with a consensus estimate for 200K. June’s employment gain was revised down by 25,000, from +306,000 to +281,000.04 Aug '23 at 11:08 am #63477
emiconductor stocks are showing some strength, leading to a 0.6% gain in the PHLX Semiconductor Index.
Microchip (MCHP 83.93, -5.60, -6.3%) is going against the grain, exhibiting a sizable loss, after reporting quarterly results.04 Aug '23 at 11:09 am #63478
Gains in the mega caps, aside from Apple, have had a noticeable impact on index performance, but many other stocks are coming along for the rally, too. T
Vanguard Mega Cap Growth ETF (MGK) is up 1.1%;
Invesco S&P 500 Equal Weight ETF (RSP) is up 0.7%;
S&P 500 is up 0.9%.
Apple (AAPL 185.33, -5.83, -3.1%)
Amazon (AMZN 143.19, +14.28, +11.1%),04 Aug '23 at 11:10 am #63479
Market rates pulled back in response to the jobs report, which showed a slowdown in nonfarm payroll growth that has the market considering the idea that it may be enough to keep the Fed on hold.
The 2-yr note yield, at 4.93% just before the data, is down ten basis points to 4.80%.
The 10-yr note yield, at 4.20% shortly before the report, is down 12 basis points to 4.07%.
Those moves are encouraging after longer-dated Treasury yields had risen sharply over the last few sessions04 Aug '23 at 3:41 pm #63500CautiousInvestorKeymaster
ow 35,065.62 -150.27 -0.43%
S&P 500 4,478.03 -23.86 -0.53%
Nasdaq 13,909.24 -50.48 -0.36%
VIX 17.10 1.18 7.41%
Gold 1,978.20 9.40 0.48%
Oil 82.64 1.09 1.34%
05 Aug '23 at 6:51 pm #63184CautiousInvestorKeymaster
- This reply was modified 4 months, 1 week ago by CautiousInvestor.
August 6 – 12, 2023 FEAR NOT Brave Investors Where have we been and where are we going? Join our weekly market thread on Traders Community… Data Depen
[See the full post at: Traders Market Weekly: Reasoning Inflation and Market Authenticity]
- You must be logged in to reply to this topic.