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- May 3rd Stock Market Update - Weak jobs report raises optimism of Fed rate cut
May 3rd Stock Market Update - Weak jobs report raises optimism of Fed rate cut
$EA $SQSP $HALO
Mukund Mohan
May 03, 2024
Market
"A softer April jobs report showed 175K jobs added vs 240K estimated. That means traders once again felt the rate cuts could be sooner than expected.” 😅 🙃
All 4 indices up big for the day on Apple earnings and soft jobs report
I personally don’t think we are getting a rate cut in June, and I have been consistently expecting rate cuts only in 2H of 2024. That however, did not stop traders from anticipating moves higher.
Strong move up for all indices as earnings continued their good reports
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Technology stocks still did well for the week. Stick to what I know
The strong bounce off the lower end of the channel for NASDAQ means the indices and tech stocks should continue their slow march up until Aug, with some short pullbacks.
Insights from my portfolio
Video of the day
Today’s video is on SquareSpace $SQSP a website and domains management company.
