All three major stock indices in the US closed in positive territory on Wednesday trading (11/09/24) driven by the Technology sector which offset investors’ disappointment over the US Inflation report which dashed hopes that the Federal Reserve will cut interest rates by 50 basis points next week.
Market participants are bracing for the CPI report from the US Department of Labor, as well as the first debate between Vice President Kamala Harris and former President Donald Trump, who are in a tight race for the White House.
The S&P 500 and NASDAQ moved in positive territory, while Brent crude oil prices hit a 3.5-year low in Tuesday’s trading (10/09/24) amid fears of weakening global demand, a day before key US inflation data is released.
PT Golden Westindo Artajaya (“Perseroan”) berdiri sejak tahun 1994 dan bergerak dalam perdagangan pakan pembenihan udang dan ikan, pakan ikan hias, peralatan akuarium dan pakan beku ikan hias.
US INFLATION data including CPI and PPI for August is scheduled to be released on Wednesday and Thursday. This duo of inflation updates is the last high-end economic data before the September 18th FOMC MEETING.
The S&P 500 surged again on Monday (09/09/24), recovering from its biggest weekly drop since 2023, as investors digested the launch of Apple’s latest line of AI-enhanced iPhones, and looked ahead to this week’s US INFLATION data.
WAVE OF WEAKNESS IN US EMPLOYMENT IS A CLASSIC PRE-RECESSION PATTERN.
The US economy added fewer jobs than expected in August, but improved from July’s sharply revised figure, according to Labor Department data; where this data could influence the next policy decision by the Federal Reserve.
BRACE FOR ANOTHER SELL-OFF? US stocks plunged on Friday after closely watched employment data showed labor market momentum slowed more than expected, suggesting a challenging path for the US to reach a soft landing, where the Fed is able to cool inflation without significantly damaging economic growth.
