US Labor Market Cools, Market Bets on Fed Policy Change, Major Indices Open Higher | Anue tycoon

The number of jobless claims in the US last week revealed signs of a cooling in the job market, which is one of the key factors for Federal Reserve (Fed) officials to decide whether they can end their aggressive tightening policies. The Fed’s policy change. The index opened higher.

before the deadline,Dow Jones Industrial Averagerose nearly 150 points or nearly 0.4%,NasdaqThe composite index rose 0.13%,S&P 500 indexup nearly 0.3%,Semiconductor PhiladelphiaThe index rose 0.11%.

Although the Fed maintained an aggressive stance and sent US stocks tumbling one after another, initial jobless claims data released before the US stock market opened revealed that the job market has cooled and the US stock futures index rose.Dow Jones IndexFutures are up more than 0.4%,S&P 500 indexFutures rose nearly 0.6%,Nasdaq Futures on 100 are up more than 0.5%.

The U.S. Department of Labor has announced the latest unemployment benefits data. Last week, the adjusted number of initial jobless claims reported 230,000, an increase of 4,000 from the previous revised value of 226,000. This was in line with market expectations. it far exceeded expectations, a record this year, the highest level since early February, suggesting unemployed Americans are having a hard time finding new jobs as the job market shows tentative signs of cooling.

Separately, United States 10-year Treasury bill yieldIt fell to a near 3-month low at one point, but then rallied, rising to 3.48% at the time of writing,dollar indexIt fell to 105.01.

Traders are currently waiting for the upcoming US November producer price index (PPI) report on Friday (9), the University of Michigan’s December consumer confidence index and next week’s heavy inflation data. week – Consumer Price Index (CPI) of consumption for November, on the one hand to understand the effect of Fed policy in controlling inflation, on the other hand also to look for clues on the possibility that the Fed may slow its aggressive interest rate hikes.

At present, the market expects November PPI to increase 7.2% year on year, the previous value is 8%, core PPI will increase 5.9% year on year, the previous value is 6 .7%, and the University of Michigan Consumer Confidence Index in December is estimated at 56.9, and the previous value is 56.8.

Strategists from Morgan Stanley to JPMorgan Chase & Co have warned investors not to put their money back into risky assets in the wake of an imminent shift to loose monetary policy from the Fed. JP Morgan analysts believe it is too early to tell the Fed’s monetary policy change.

Starting at 22:00 on Thursday (8) Taipei time:

Focus on actions:

Tesla (ATS-US) fell 1.55% in early trading to $171.34 a share

Tesla’s November sales in China fell 12.85 percent to 62,493 vehicles, according to data from the China Passenger Car Association (CPCA). Another report pointed out that Tesla will reduce the production shift of the Shanghai plant as early as next Monday (12) and delay the registration time of some new employees. This further reveals that the demand for Tesla’s electric vehicles in the Chinese market has not reached planned.

intel (INTC-US) fell 0.25% to $28.26 a share in early trading

The layoff and cost-cutting measures announced by Intel executives have been rolled out in California, including expected layoffs of hundreds of employees by the end of next month. Intel has also suggested that global manufacturing employees take unpaid leave. . Intel has sent a letter to the California Employment Development Bureau, announcing it will lay off 111 people in Folsom and 90 people in Santa Clara, where its headquarters are located. The layoffs are final and are expected to take effect January 31.

GameStop(GME-USA) rose 0.71% to $22.42 a share in early trading

GameStop’s financial report last quarter was disappointing, with revenues below expectations and losses far exceeding expectations. The company’s chief executive, Matt Furlong, said the company has made the necessary investments and will spend wisely going forward.

Today’s key economic data:

• Number of Americans filing for unemployment benefits early last week reported 230,000, 230,000 expected and 226,000 before revision
• The number of people continuing to receive unemployment benefits in the United States last week was reported at 1.671 million, expected at 1.6 million, and the previous value was revised to 1.609 million

Wall Street Analysis:

Marios Hadjikyriacos, an analyst at brokerage XM, said the deeper inversion in the US bond yield curve showed that, in investors’ eyes, the risk of a recession had begun to overshadow inflation.

Rich Weiss, director of multi-asset investing at American Century Investment Management, isn’t surprised by the recent decline in US stocks: It would kill any stock market rebound.