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US Stock Futures Surge on Rate Cut Bets, Strong Tech Earnings
Powell's dovish sound is loud, and the Dow rose by 1% at one point.
Employment and inflation risks are entering a better balance.
Express News | US July ADP Nonfarm Employment Change +122000 Vs +147000 Forecast, Prior +150000
USA's job openings in June recorded higher-than-expected numbers, with both voluntary quits and recruitment dropping significantly.
Analysis indicates that the JOLTS report in June once again clearly demonstrates that the U.S. labor market has not deteriorated as increasingly more pessimists assert. However, financial blog Zerohedge points out that private sector job openings have dropped significantly, falling to levels last seen in late 2018, while government job vacancies are only slightly below historic highs.
July FOMC Meeting Preview: Fed's Statement is Expected to Echo Powell's Recent Dovish Remarks
The demand continues to decline, and the prosperity of the US manufacturing industry is fading.
Producers of durable goods such as automobiles, agricultural machinery, and washing machines all anticipate a challenging business environment for the remaining time this year as consumer demand in the USA slows down, and have begun to lay off employees and reduce production.
i short the sheriff : I wonder how much of the US Equities hold by foreign retail investors?
i short the sheriff : Oops it's in the chart..17%