Futures in flat awaiting economic data
2022.12.02 06:55
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Futures in flat awaiting economic data
Budrigannews.com – On Friday, US stocks on stock indexes were dreaming a little, as investors were waiting for the November report on wages, which will give additional information about the tightening of the Fed’s monetary policy.
In November, the number of people employed in the non-agricultural sector is expected to increase by 200 thousand people, which is less than the growth in October, according to the Labor Ministry report published at 8:30 a.m. Eastern time.
However, the level of disability in the United States is likely to remain at the level of 3 and 7 in early November. Since the growth of fears of a recession has reduced the demand for labor, job growth this month was probably the smallest in almost 2 years. In this case, the Fed can be sure that the rate of interest rate growth will begin to decrease next month.
On the eve of a sharp increase caused by the remarks of the head of the Fed, Jorom Powell, that the interest rate hike in December is winding down, the London Stock Exchange indices closed on Thursday in different directions.
The Fed’s preferred inflation index, the personal consumption index, performed better than expected, and manufacturing activity declined for the first time in two to a year and a half, which led to changes on Thursday. The probability of an increase in US Central Bank interest rates in December by 50 basis points is now 91 and will reach a minimum of less than 5 in May 2023.
“Russ Mould, Investment director of AJ Bell, said that the market expects a Goldilocks scenario for employment statistics in America on Friday.” “Ideally, the labor market would not be too cold if the Fed continued to aggressively raise rates, or too cold if the world’s largest economy was going into a serious recession.”
Marvell, semiconductor manufacturer NASDAQ: After Technology Inc.’s quarterly profit, which did not meet expectations, the stock declined by 6.9 on the market. Thanks to positive quarterly earnings, UiPath Inc. showed a 10.2 increase.
By 23 points or 0.07, 1 point or 0.02 and 8.25 points or 0.07 at 05:42 am Eastern time. Two-year-old bonds, often indicative of interest rates, fell by a minimum in October, and the yield on the 10-year treasury fell by a minimum in 10 weeks.
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