June Jobs Report Preview: Strong Employment Momentum Hints At Upside Surprise In Nonfarm Payrolls Data
Portfolio Pulse from Piero Cingari
Investors are anticipating the Bureau of Labor Statistics’ job market report for June, which will reveal data points including non-farm payrolls (NFPs), hourly wage growth, and the unemployment rate. The data will influence market sentiment and the Federal Reserve's decisions on interest rates. The market is volatile with rate hike expectations surging. Both the SPDR S&P 500 ETF Trust (NYSE:SPY) and the Invesco QQQ Trust (NASDAQ:QQQ) fell by about 1% on Thursday. Economists forecast NFPs to decrease from 339,000 to 225,000 in June, and the unemployment rate to edge lower from 3.7% to 3.6%.
July 06, 2023 | 7:35 pm
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NEGATIVE IMPACT
The Invesco QQQ Trust (NASDAQ:QQQ) fell by about 1% on Thursday amid heightened volatility and rate hike expectations.
The market is volatile with rate hike expectations surging. This has led to a decrease in the price of QQQ, indicating a negative short-term impact.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
The SPDR S&P 500 ETF Trust (NYSE:SPY) fell by about 1% on Thursday amid heightened volatility and rate hike expectations.
The market is volatile with rate hike expectations surging. This has led to a decrease in the price of SPY, indicating a negative short-term impact.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80