US market outlook: employment statistics revised at 23:00, employment reduction of up to 1 million people possible?! The Dow Jones Industrial Average started at $46 higher
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This is the reading for tonight's NY stock.![]()
Market Overview
The US market started, and the Dow Jones Industrial Average, which consists of excellent stocks, rose 46.06 dollars to 40881.03 dollars, and the Nasdaq Composite Stock Price Index, which has a high high-tech stock ratio, began at 17840.51 with a 23.57 point increase. The S&P 500 average, which consists of stocks of 500 companies that are large US stocks, is 5.97 points higher at 5603.09.
The US market started, and the Dow Jones Industrial Average, which consists of excellent stocks, rose 46.06 dollars to 40881.03 dollars, and the Nasdaq Composite Stock Price Index, which has a high high-tech stock ratio, began at 17840.51 with a 23.57 point increase. The S&P 500 average, which consists of stocks of 500 companies that are large US stocks, is 5.97 points higher at 5603.09.
Top news
Market trends
● Traders were prepared to get busy for the end of the week ahead of Fed Chairman Powell's Jackson Hole speech on Wednesday.
● The European Stock Exchange 600 stock price index rose slightly, and US stock futures also showed small movements. $U.S. 10-Year Treasury Notes Yield (US10Y.BD)$ It leveled off, and the index showing a strong dollar stopped falling for 3 days.
● Traders were prepared to get busy for the end of the week ahead of Fed Chairman Powell's Jackson Hole speech on Wednesday.
● The European Stock Exchange 600 stock price index rose slightly, and US stock futures also showed small movements. $U.S. 10-Year Treasury Notes Yield (US10Y.BD)$ It leveled off, and the index showing a strong dollar stopped falling for 3 days.
Employment statistics correction
● In the US, employment statistics for the year up to March have been revised, and there is a possibility that employment of up to 1 million people will decrease.
● Economists at Goldman Sachs and Wells Fargo & Company predict that the growth in the number of employed people in the year up to March will be at least 0.6 million (about 0.05 million people per month) weaker than current estimates, and the former may reach 1 million people.
● This report could influence the tone of Chairman Powell's speech at Jackson Hole.
●Related articles:The biggest overvaluation in the last 15 years? There is also a downward revision of the number of people employed in the US by 1 million people!?
● In the US, employment statistics for the year up to March have been revised, and there is a possibility that employment of up to 1 million people will decrease.
● Economists at Goldman Sachs and Wells Fargo & Company predict that the growth in the number of employed people in the year up to March will be at least 0.6 million (about 0.05 million people per month) weaker than current estimates, and the former may reach 1 million people.
● This report could influence the tone of Chairman Powell's speech at Jackson Hole.
●Related articles:The biggest overvaluation in the last 15 years? There is also a downward revision of the number of people employed in the US by 1 million people!?
Federal Reserve Minutes
● A few hours later, traders will also have to respond to the July Fed minutes announcement.
● The Federal Reserve left interest rates unchanged, but it suggested the possibility of cutting interest rates in the near future.
● Traders will not only look for clues to interest rate prospects, but they will also look for signs of what will happen after the Fed completes the current quantitative tightening.
● A few hours later, traders will also have to respond to the July Fed minutes announcement.
● The Federal Reserve left interest rates unchanged, but it suggested the possibility of cutting interest rates in the near future.
● Traders will not only look for clues to interest rate prospects, but they will also look for signs of what will happen after the Fed completes the current quantitative tightening.
Betting on bonds
● In the bond market, traders are taking the biggest risk ever by betting heavily on an increase in the US bond market due to speculation that the Fed's interest rate cuts are imminent.
● The number of leveraged positions on government bond futures reached a record high. This sharp rise is consistent with bullish bets calling for aggressive interest rate cuts from this year to 2025 have surged in recent weeks.
● In the bond market, traders are taking the biggest risk ever by betting heavily on an increase in the US bond market due to speculation that the Fed's interest rate cuts are imminent.
● The number of leveraged positions on government bond futures reached a record high. This sharp rise is consistent with bullish bets calling for aggressive interest rate cuts from this year to 2025 have surged in recent weeks.
The percentage of Americans looking for work is over 28%, a high level for the first time in 10 years = New York Federal Reserve
●According to a survey by the New York Federal Reserve, pessimistic expectations of American workers have once again become clear as the market is concerned that the US Department of Labor's employment statistics have been drastically revised downward. The survey results suggest the possibility that the job market will continue to deteriorate.
●On 8/19, the New York Federal Reserve announced an investigation report on employment conditions and satisfaction in the United States. According to the same survey, the percentage of respondents looking for work in the past month has exceeded 28%, the highest level since 2014/3, and concerns about future unemployment are also at their highest level in the past 10 years.
●Further deterioration in the labor market could have negative effects on the market and other sectors, said Insigneo's chief investment officer Ahmed Riesgo.
●According to a survey by the New York Federal Reserve, pessimistic expectations of American workers have once again become clear as the market is concerned that the US Department of Labor's employment statistics have been drastically revised downward. The survey results suggest the possibility that the job market will continue to deteriorate.
●On 8/19, the New York Federal Reserve announced an investigation report on employment conditions and satisfaction in the United States. According to the same survey, the percentage of respondents looking for work in the past month has exceeded 28%, the highest level since 2014/3, and concerns about future unemployment are also at their highest level in the past 10 years.
●Further deterioration in the labor market could have negative effects on the market and other sectors, said Insigneo's chief investment officer Ahmed Riesgo.
(If) the slump in the labor market continues, it will eventually lead to a decline in the market.
— MooMoo News Zeber
Source: Moomoo, Bloomberg, CME FedWatch, Dow Jones
This article uses automatic translation for some of its parts
Source: Moomoo, Bloomberg, CME FedWatch, Dow Jones
This article uses automatic translation for some of its parts
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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