Strike Over, Jobs Hot as Soft Landing in Sight | Moovin Stonks

Kevin Travers joined discussion · Oct 4 09:34

Strike Over, Jobs Hot as Soft Landing in Sight | Moovin Stonks

Good morning, traders. Happy Friday, October 4th. The new jobs numbers came in hot- 254k new payrolls in September, compared to estimates of 147k. That and the lower BLS Unemployment rate sent the market back into a climb with nine out of 11 sectors of the S&P 500 in the green.

It has been a volitile week, my name is Kevin Travers; here stonks and stories you have to know about on Wall Street Today.

$ZIM Integrated Shipping (ZIM.US)$ fell 12% Friday after Longshoremen across the U.S. suspended their strike until January 15, after port operators agreed to raise pay by more than 60% for the following six years. Shipping stocks like ZIM fell after the striking higher shipping costs no longer seemed like a sure thing.

$Amentum Holdings (AMTM.US)$ , a newly listed stock of the S&P 500, was again one of the index's most volitile, climbing 7% Friday. After its Sept. 24 listing, the stock has flown up and down, and climbed 25% on Monday, as hedge funds and indexes buy into the stock.

$Spirit Airlines (SAVE.US)$ sank a dramatic 28% Friday morning after reporters late Thursday the firm was in talks for a potential bankruptcy. According to the Wall Street Journal, the firm is considering a Chapter 11 filing during restructuring conversations.

Within industries tracked by moomoo, airlines were taking flight after competitor Spirit fell from cruising altitude. $Frontier Group (ULCC.US)$ soared 21%, $JetBlue Airways (JBLU.US)$ flew 15%, and $American Airlines (AAL.US)$ climbed 7%.

$Crude Oil Futures(JAN5) (CLmain.US)$ continued to climb, up about 8% in the past week following Iran attacks on Israel. The retaliatory attack has not yet come.

$XAU/USD (XAUUSD.CFD)$ traded down early on Friday, moving sharply lower as the $U.S. 2-Year Treasury Notes Yield (US2Y.BD)$ and the $U.S. 10-Year Treasury Notes Yield (US10Y.BD)$ climbed. jumped 3% and 2% higher following the jobs report.

Investors and economists watched the Job report as an indication that the Fed's "soft landing" was underway, and that rate cuts two weeks ago were right on time. Compared to weaker labor reports over the summer, 250k new jobs is back on target.

$Bitcoin (BTC.CC)$ climbed to $61k.

Just past 10:34 am ET the $S&P 500 Index (.SPX.US)$ climbed 0.11%, the $Dow Jones Industrial Average (.DJI.US)$climbed 0.02%, and the $Nasdaq Composite Index (.IXIC.US)$ climbed 0.32%.

In macro, all eyes were on the September labor report.

Fed's Goolsbee, speaking Friday on Bloomberg TV said if we get more jobs reports like this, the FOMC is confident the country is reaching "full employment." he said it was yet another piece of great news for the economy, but as a part of a larger trend, he begged caution. Fed policymakers are planning on large rate cuts in the coming 18 months, he said, and he warned the should lean toward more restrictive as they turn the valve.

Interested in Options? To see these stocks and more on the options page, click here. Want to learn more about options, check out moomoo education with this link. Click here to join our exclusive options chat with personal callouts from our resident expert, Invest with Sarge.

Yesterday, users were excited for a market that would not give up, and were trying to invest while facing high volitility.

Traders, what do you think, is the market in 2024 about following the herd? What you watching on the stock market today? What is the herd following? Let me know in the comments below!

Disclaimer: This content is for informational use only and is not a recommendation or endorsement of any particular investment or strategy. Indexes are unmanaged and cannot be directly invested into. Investing involves risk and the potential to lose principal. Investment information provided in this content is general in nature, strictly for illustrative purposes, and may not be appropriate for all investors. It is provided without respect to individual investors' financial sophistication, financial situation, investment objectives, investing time horizon, or risk tolerance. You should consider the appropriateness of this information having regard to your relevant personal circumstances, before making any investment decisions. Past performance does not indicate or guarantee future success. Moomoo makes no representation or warranty as to its adequacy, or timeliness for any particular purpose of the above content. The data and information provided has been obtained from sources considered to be reliable, but moomoo does not guarantee that the foregoing material is accurate or complete. See the link in the Moovers Community post for more information.

Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only. Read more