The SP500 surged in response to the dismal JOLTs Job Openings report, which revealed that job openings fell from 9.165 million (revised from 9.582 million) in June to 8.827 million in July.The revision of June statistics provided an extra bullish impetus for stocks, as a weaker labor market may result in a less aggressive Fed. …
The SP500 surged in response to the dismal JOLTs Job Openings report, which revealed that job openings fell from 9.165 million (revised from 9.582 million) in June to 8.827 million in July.
The revision of June statistics provided an extra bullish impetus for stocks, as a weaker labor market may result in a less aggressive Fed. The forecast for Fed policy is the primary driver of major indices at the moment. Traders are ignoring recession concerns in favor of focusing on declining Treasury yields, which is good for equities.
The NASDAQ has had a positive bounce, gaining more than 1.5% as traders seek refuge in a lower dollar and decreasing Treasury yields, which has increased enthusiasm for technology equities.
The Dow Jones Industrial Average has also risen, albeit slowly. But it was the Dow Jones index’s largest gainer today.
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Please note that this article does not offer any instructions or suggestions regarding investment decisions. Therefore, it is essential that you carefully evaluate your financial situation and conduct thorough analysis, or seek advice from a qualified professional, before making any investment decisions.
