Traders are looking ahead to the May nonfarm payrolls report due Friday morning.
All three of the major averages are on pace for a winning week. The Dow has a 0.52% gain, while the S&P 500 is higher by 1.43% and the Nasdaq is on pace for a 2.62% advance.for May, due at 8:30 a.m. ET. They will be seeking signs of a weakening labor market, as evidence of a slowing economy may support interest rate cuts from the Federal Reserve. Economists polled by Dow Jones expect that 190,000 jobs were added, and they anticipate that wages grew 3.9% on a year-over-year basis.
A slowing economy is just one reason to remain bullish on the overall market this year, according to Ed Clissold, chief U.S. strategist for Ned Davis Research. "There's not a lot of reasons to get off what has so far been a really good year," he said on CNBC's"Closing Bell" on Thursday."The Q1 earnings season is wrapping up, with over 80% of companies beating estimates. looks like Q2 is going to have an acceleration in earnings growth. We're looking at economic slowdown, no immediate recession. The excessive optimism we saw in March has been largely worked off.
Feeling out of the loop? We'll catch you up on the Chicago news you need to know. Sign up for the weeklyThe Fed will give its decision on rates next week after its June 11-12 policy meeting. Fed funds futures trading data suggests the central bank will most likely hold rates steady this time, but they imply a roughly 70% chance that policymakers will ease in September, according to theFutures tied to the Dow Jones Industrial Index inched higher by 13 points, or 0.03%.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Stock futures are little changed as investors brace for May jobs report: Live updatesTraders are looking ahead to the May nonfarm payrolls report due Friday morning.
Baca lebih lajut »
Stock Market Today: Dow in rip-roaring gains as traders cheer in-line inflationStock Market Today: Dow in rip-roaring gains as traders cheer in-line inflation
Baca lebih lajut »
Stock traders go on trial in multibillion dollar collapse of Archegos fundA federal jury in Manhattan is set to hear the criminal case against Archegos Capital Management founder Bill Hwang and his former financial officer, Patrick Halligan. Both have pleaded not guilty to charges that they lied to banks and brokerages, enabling their private investment firm to grow its portfolio from $10 billion to $160 billion. U.S.
Baca lebih lajut »
Live Nation Concert Week 2024: Here’s how to get your $25 concert tickets nowThe sale went live at 10 a.m. today, Wednesday, May 8, and continues through Tuesday, May 14.
Baca lebih lajut »
Reddit shares close near record after two-day rally driven by meme stocksReddit shares popped Tuesday after retail traders kicked off a meme stock buying frenzy
Baca lebih lajut »
Election InformationEarly Voting: Monday, May 20 - Friday, May 24; Election Day: Tuesday, May 28
Baca lebih lajut »