Monday Market Must-Knows: September 2, 2024
The past week was turbulent, but how did you fare? Nvidia's earnings beat expectations across the board, yet the stock dropped 8% in after-hours trading and closed down 3% the next day—a surprisingly muted reaction.
Thursday's GDP report showed growth from 2.8% to 3%, a positive sign for the economy, and Friday’s Core PCE Price Index met expectations at 2%, signaling controlled inflation.
But there's a new concern: unemployment. Jerome Powell highlighted this at the Jackson Hole Symposium, and this week’s employment data could heavily influence the Fed's rate decisions.
Watch for the JOLTS report Wednesday, ADP Non-Farm Employment Change Thursday, and Friday's unemployment rate. A rise above 4.5% could pressure the Fed to cut rates sooner than expected.
Meanwhile, Canada is expected to cut rates by 25 basis points. It’s a light earnings week, but keep an eye on EV companies like BYD and NIO. Be cautious—Friday’s unemployment data could bring market volatility.
As always, if you’re in the markets, make sure you have a trade plan. Join us for a FREE introductory class. Learn about tools & rules for trading with confidence-so you can stay one step ahead of market volatility. Stay Informed, Start Knowing Today!
Thursday's GDP report showed growth from 2.8% to 3%, a positive sign for the economy, and Friday’s Core PCE Price Index met expectations at 2%, signaling controlled inflation.
But there's a new concern: unemployment. Jerome Powell highlighted this at the Jackson Hole Symposium, and this week’s employment data could heavily influence the Fed's rate decisions.
Watch for the JOLTS report Wednesday, ADP Non-Farm Employment Change Thursday, and Friday's unemployment rate. A rise above 4.5% could pressure the Fed to cut rates sooner than expected.
Meanwhile, Canada is expected to cut rates by 25 basis points. It’s a light earnings week, but keep an eye on EV companies like BYD and NIO. Be cautious—Friday’s unemployment data could bring market volatility.
As always, if you’re in the markets, make sure you have a trade plan. Join us for a FREE introductory class. Learn about tools & rules for trading with confidence-so you can stay one step ahead of market volatility. Stay Informed, Start Knowing Today!