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Further Rise in Jobless Rate May Prompt BNP Paribas to Call for Two Rate Cuts in 2024
"Only God can make me drop out!" Biden passionately promises to continue the campaign, but he misspoke again this time.
On Friday, US Eastern Time, Biden stated in an interview that he will continue to run for the presidency, and that he is the best candidate to stop Trump from returning to the White House in November. However, it was a bit awkward that he misspoke during this 22-minute interview. On Monday next week, US Eastern Time, several Democratic congressmen will have a meeting to discuss persuading Biden to drop out of the race.
Nvidia has fallen, and bitcoin has crashed, but the US stock market continues to move forward under heavy pressure.
Bearish analysts have repeatedly misjudged the market and lost their jobs. Some institutions have even abandoned the traditional practice of setting target prices for large caps. The rising price of Mag 7 has pushed the S&P 500's P/E ratio to 26 times, higher than any election year since at least 1990.
Express News | Bank of America: the rise in index driven by giant stocks is a market feature, not a market bug.
Has the US labor market still been "strong"? Media reported that non-farm payrolls data for the first two months were significantly revised downward.
"New American News Agency" stated that although the non-farm data in June is not enough to make the Fed cut interest rates at the July meeting, it is likely to cause a more intense debate on cutting interest rates in September at the July meeting.
"Fed's top three": Although there has been progress in inflation control work, it has not been completed yet.
On Friday, New York Fed President Williams delivered a speech at an event in Mumbai, India, stating that despite recent declines, inflation rates are close to the Fed's target of 2%, and Williams emphasizes policymakers still need to continue efforts to achieve this goal.
Fed Monetary Policy Report: Inflation slows, confidence still needed before rate cuts, closely watching next week's Powell hearing!
The report summarizes the state of the US economy in the first half of this year and the execution of the mmf policy by the Federal Reserve, which is almost consistent with the discussions in previous Federal Reserve meetings.
Top 20 turnover | Tesla has risen for 8 consecutive days, up more than 27% this week, with a total transaction volume of over 38 billion US dollars.
On Friday, Tesla was the top volume trading company in U.S. stocks, rising 2.08% for the eighth consecutive trading day, and the stock price hit a new six-month high with a transaction volume of $38.342 billion. The stock has risen more than 27% this week, wiping out most of its losses this year. Nvidia, ranked 2nd, fell 1.91% with a transaction volume of $27.207 billion. Apple, ranked 3rd, rose 2.16%, with a transaction volume of $13.591 billion.
U.S. stocks closed with the expectation of interest rate cuts boosted by non-farm payrolls, with the S&P and Nasdaq hitting new highs! Tesla rose nearly 38% in eight days, while Nvidia cooled off.
In June, non-farm payroll employment in the USA fell sharply, with significant downward revisions to previous data, and the unexpected rise in unemployment rate highlighted a cooling labor market, leading the market to bet over 70% on rate cuts in September and December.
Study Links GLP-1 Drugs, Metformin to Lower Risk of Certain Cancers
Intel And AMD Are Going For A Bigger Role In The AI Era, But At A Gradual Pace
Nvidia Corporation (NASDAQ:NVDA) undoubtedly had an early lead in the AI chip race, but its rivals are doing their best to challenge its dominance. After more than one failed attempt to discreetly ent
Several Semi Stocks Rise Decisively During End-of-week Rally
10 Information Technology Stocks Whale Activity In Today's Session
This whale alert can help traders discover the next big trading opportunities.Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scan
Goldman Sachs' Pasquariello: This Is How Market Breadth Is Expected to Broaden
Market Breadth Will Broaden Through Mid-2025 - Wells Fargo
Will the Federal Reserve cut interest rates in September? The key data is still yet to come!
After the non-farm data was released, the market priced in a 70% chance of a rate cut by the Fed in September. Analysts pointed out that "the key is another round of data".
After a closer look at the US non-farm payrolls report, I was sweating with shock as the data for the first two months was unexpectedly slashed by 0.11 million.
① The seasonally adjusted non-farm employment population in the United States increased by 0.206 million people in June, exceeding the market's expected 0.19 million people; ② The report revised the May data from 0.272 million people to 0.218 million people, and April from 0.165 million people to 0.108 million people.
Market Clubhouse Morning Memo - July 5th, 2024 (Trade Strategy For SPY, QQQ, AAPL, MSFT, NVDA, GOOGL, META And TSLA)
Good Morning Traders! In today's Market Clubhouse Morning Memo, we will discuss SPY, QQQ, AAPL, MSFT, NVDA, GOOGL, META, and TSLA. Our proprietary formula, exclusive to Market Clubhouse, dictates thes
US stock pre-market: the three major indices have mixed gains and losses, with large tech stocks generally rising, with Tesla, Apple, Amazon, and Microsoft all up more than 1%; China concept stocks fell across the board, with Xpeng down nearly 10% and NIO
The US stock market opened flat on Friday, and the three major stock indexes in the US will all record gains this week. The number of new non-farm jobs added in June in the United States fell sharply, and the unemployment rate unexpectedly climbed to 4.1%, reinforcing the reason for the Federal Reserve's interest rate cuts.
Visa, Mastercard Said to Extend Caps on Non-EU Card Fees by Five More Years