LEIBOVIT VR NEWSLETTERS – MONDAY – JANUARY 13, 2025 – PREDICTED NEGATIVE CYCLIC PATTERNS TAKING HOLD – THOUGH TRADING OPPORTUNITIES ABOUND – THE UFO DISCLOSURE STORY IS ALSO IN THE NEWS!
U.S. Stocks Close Sharply Lower As Strong Jobs Data Raises Interest Rate Concerns
U.S. stocks tumbled on Friday due to heavy selling across the board as buoyant non-farm payroll data raised concerns that the Federal Reserve will likely hold interest rates at current levels or slow down the pace of reductions. Rising bond yields hurt as well.
The major averages all closed sharply lower. The Dow settled with a loss of 696.75 points or 1.63 percent, at 41,938.45. The S&P 500 closed down 91.21 points or 1.54 percent, at 5,827.04, while the Nasdaq ended lower by 317.25 points or 1.63 percent, at 19,161.62.
Data from the Labor Department showed U.S. non-farm payroll employment surged by 256,000 in December, after jumping by a downwardly revised 212,000 jobs in November.
Economists had expected employment to climb by 160,000 jobs compared to the addition of 227,000 jobs originally reported for the previous month.
The unemployment rate in the U.S. edged down to 4.1% in December from 4.2% in November. The rate was expected to come in unchanged.
“The Fed already took the foot of the brake somewhat in late 2024, as the unemployment […]
LEIBOVIT VR NEWSLETTERS – FRIDAY – JANUARY 10, 2025 – MARKET NEGATIVES PERSIST – SUBSCRIBE AND GET THE DETAILS
U.S. Stocks Finish Choppy Trading Session Little Changed
Following the sharp pullback seen over the course of Tuesday’s session, stocks showed a lack of direction during trading on Wednesday. The major averages
spent the day bouncing back and forth across the unchanged line before eventually closing narrowly mixed.
While the tech-heavy Nasdaq edged down 10.80 points or 0.1 percent to 19,478.87, the Dow rose 106.84 points or 0.3 percent to 42,635.20 and the S&P 500
crept up 9.22 points or 0.2 percent to 5,918.25.
The choppy trading on Wall Street came amid uncertainty about the outlook for interest rates following the release of mixed U.S. jobs data.
While payroll processor ADP released a report showing private sector job growth slowed more than expected in December, the Labor Department released a
report showing weekly jobless claims unexpectedly fell to their lowest level in almost eleven months.
ADP said private sector employment rose by 122,000 jobs in December after climbing by 146,000 jobs in November. Economists had expected private sector
employment to grow by 140,000 jobs.
The report said hiring slowed in several industries, while employment in the manufacturing sector shrank for the third straight month.
“The labor market downshifted to a more modest pace […]
