- 01 Sep '23 at 10:27 am #64904TrumanParticipant
Li Auto (LI 42.690, +0.95, +2.3%): reports August deliveries increased 663.8% yr/yr01 Sep '23 at 10:29 am #64905TradersComKeymaster
The August Employment Situation Report featured a softening in nonfarm payrolls after accounting for revisions, a jump in the unemployment rate to 3.8%, and a moderation in average hourly earnings growth.
Altogether the key takeaway from the report is that it was a Goldilocks report as it pertains to the market’s thinking that the Fed won’t be raising rates again.
The 2-yr note yield, which is most sensitive to changes in the fed funds rates, slipped to 4.78% immediately after the report, but sits at 4.81% now. The 10-yr note yield is up one basis point to 4.10% after dropping to 4.05% after the data.
Nonfarm payrolls rose by 187,000 in August (consensus 175,000) following a revised 157,000 increase in July (from 187,000).
Nonfarm private payrolls grew by 179,000 in August (consensus 172,000) from a revised 155,000 in July (from 172,000).
The unemployment rate jumped to 3.8% in August (consensus 3.6%) from 3.5% in July.
Average hourly earnings rose by 0.2% in August (consensus 0.3%) following a 0.4% increase in July. The average workweek rose to 34.4 hours in August (consensus 34.3) from 34.3 in July.01 Sep '23 at 4:54 pm #64941CautiousInvestorKeymaster
Dow 34,837.71 115.80 0.33%
S&P 500 4,515.77 8.11 0.18%
Nasdaq 14,031.81 -3.15 -0.02%
VIX 13.09 -0.48 -3.54%
Gold 1,966.20 0.30 0.02%
Oil 86.05 2.42 2.89%02 Sep '23 at 2:23 pm #64605CautiousInvestorKeymaster
September 3 – 9, 2023 FEAR NOT Brave Investors Where have we been and where are we going? Join our weekly market thread on Traders Community… You call
[See the full post at: Traders Market Weekly: Is the Goldilocks Scenario a Myth and Does it Matter?]
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