The Dow Industrial Average erases the declines. S&P and NASDAQ still down.
The Dow Industrial Average briefly returned to positive territory with a gain of 5.46 points. This erased a drop of -220.44 points.
Currently, prices are back in negative territory by -28 points or -0.08% at 34026.46.
Both the NASDAQ index and the S&P index remain down on the day, but they erased even bigger declines.
For the trading week, the NASDAQ index is still up 4.5%, while the S&P is up 2.34%. Was the Dow Industrial Average, it clings to a small gain of 0.16% for the week.
The upside for equities is that people stay in gainful employment, which could soften the downturn. The downside for equities is that it keeps inflation potentially higher, which increases costs for businesses and keeps the fed
The Fed
“The Fed” is shorthand for the Federal Reserve or the Federal Reserve System, the central banking system of the United States. Traders often discuss Fed actions, primarily interest rate decisions, as they have a significant impact on all financial markets. The term “Feds” refers to the enforcement of US federal law, including agencies such as the FBI (Federal Bureau of
“The Fed” is shorthand for the Federal Reserve or the Federal Reserve System, the central banking system of the United States. Traders often discuss Fed actions, primarily interest rate decisions, as they have a significant impact on all financial markets. The term “Feds” refers to the enforcement of US federal law, including agencies such as the FBI (Federal Bureau of
Read this term also in play, which increases their cost of capital.
Either way, the rebound today is impressive.
Fed talk next week will increase. My guess is that Fed officials concerned about service-sector inflation will continue to have those concerns. That the Fed would reiterate its need to maintain higher rates for an extended period.
Time and again, the jobs report disappoints the market looking for slowing gains and with it the potential for lower inflation.
As I type, the Dow Industrial Average is now up about 50 points. The S&P is only down six points and the NASDAQ index is down only 13 points on the day.
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