Previous Trading Days Events 31 Jan 2024

The ADP report showed that the S. private payrolls rose far less than expected in January showing signs that the labour market is cooling after Decembers hot data. The Labor Department reported on Tuesday that there were 9.0M job openings on the last day of December, slightly higher than the previous month.

Total nonfarm payrolls are estimated to have increased by 180K jobs after rising 216K in the prior month.

Source httpswww.reuters.commarketsususprivatepayrollsmissexpectationsjanuaryadp20240131

FOMC Policymakers announced that the current interest rate policy will be kept steady until more data support that inflation will indeed retreat as expected lower reaching the desired target, speculating that it will cut rates significantly later this year.

Feds Powell reported that its unlikely to act that quickly as March for a policy change shaking the markets as expectations formed.

The decision to begin cutting is of great consequence I really think it is that they dont want to rush into it, Jeffrey Rosenberg, a portfolio manager at BlackRock Inc., said on Bloomberg television.

The current economic situation in the U.S. is actually good considering the high borrowing costs. Both sectors of the economy show expansion, labour market conditions have been stable, with improvement in December 2023 and a low, stable unemployment rate. Inflation, however, despite the fact that it has eased over the past year, remains…