SOME US ECONOMIC DATA ON June 7, 2024 (Eastern time)

* These are some important economic data to help investors predict what direction the FED will have on interest rates in the next few months.

FED's Balance Sheet:

Previous: $7,284B

Actual: $7,256B

Average hourly earnings - GDP/HR (May)

Previous: 4.0%

Forecast: 3.9%

Actual: 4.1% (up 0.1%)

Non-Farm Payroll (May)

Before: $165K

Forecast: $182K

Actual: $272K

Unemployment Rate (May)

Previous: 3.9%

Forecast: 3.9%

Actual: 4.0%

Indicators are generally good for the economy, but not at all good for the Financial Markets. Because with neutral and somewhat positive indicators, the FED is likely to postpone the time to reduce USD interest rates, thereby continuing to tighten cash flow.

After the Indexes were launched, the market had a series of negative reactions.

- US Stock Market:

DJIA - Dow Jones Industrial Average: down 87.18 points (-0.22%), closing at $38,798.99

S&P 500: down 5.97 points (-0.11%), closing at $5,346.99

NASDAQ: down 39.99 points (-0.23%), closing at $17,133.13.

- Gold and Crude Oil Market:

Gold: down 82.3 points (-3.44%), trading at $2,308.7/OZ

Crude oil: down 0.27 points (-0.36%), trading at $75.28/barrel.

- Cryptocurrency market (as of the time of writing):

Bitcoin (BTC): down 1,449.43 points (-2.05%)

Ethereum (ETH): down 112.51 points (-2.96%)

Ripple (XRP): down 0.02 points (-4.3%)

...

Investors manage psychology as well as risks to limit sell-offs.

- Philippe -