• Mon: Chicago PMI; Fed Chair Powell Speech⚠️
• Tues: ISM Mfg. PMI, JOLTs; $NKE Earnings
• Wed: ADP Payrolls; $TSLA Q3 Deliveries
• Thurs: Jobless Claims, ISM Services PMI ⚠️
• Fri: Jobs Report
- European stocks made a muted start to the week, held back by a slew of profit warnings from automakers that dulled the boost from China’s economic stimulus measures.
- Investor hopes for a soft landing for the U.S. economy will be put to the test next week, as the government releases closely watched labor market data following a series of disappointing jobs reports.
- Wall Street's benchmark S&P 500 opens new tab index is up 20% year-to-date near a record high. With the third quarter ending on Monday, the index is on track for its strongest January-September performance since 1997.
- Hopes for a soft landing in which the Federal Reserve tames inflation without badly hurting growth, have helped drive those gains, along with a 50 basis point rate cut the central bank delivered at its monetary policy meeting this month.
- Some recent payrolls reports have roiled markets, particularly data showing an unexpected slowdown that helped spark a sharp, days-long selloff in the S&P 500 in early August. The index has since recovered those losses and gone on to make fresh highs.
- For the September report due out next week, nonfarm payrolls are expected to have increased by 140,000, according to Reuters data on Friday.
#TradingMadeEasy #CryptoNewss #bitcoin☀️ #btcupdates2024 #Market_Update
