The whole wall street is carefully watching on the upcoming release of the job report from the Labor Department of the USA. From the start, investors are observed to be a lot skeptical about what would new job report bring onto a table. Reportedly major stock indexes like NASDAQ and S&P 500 have gone down by a small margin. There is a high possibility that Feds are going to cut the rate of interest, which is also going to be a crucial factor for deciding whether stocks will go up or down.
Dow Jones Industrial Futures and S&P 500 has gone down by slightly .01% at the start of intraday trading. If we look at economists data, then it shows that the US government has managed to add more than 160000 jobs in June as compared to only 75000 in May. Last month major stock indexes fell at the high margin when labor department released such a negative number.
However, this time, the US job sector seemed to be in a good position because of the latest trade talks and addition of more factories for creating jobs in the country. Asian stock market relatively performed better on Friday, but in Europe, London FTSE went down by .02%, Germany’s DAX by .03%. Now Feds who were opposed to cutting rate of interest are thinking of cutting it because according to them, the US might get into a recession. Many economists believe Feds are going to reduce interest even though the current situation is far right. Trump administration has already started trade talks with China, and a few days ago market responded positively on that news. Now it will be interesting to see how wall street is going to react to upcoming job reports.
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