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Expectation for rate cut prompts high demand for US equities
TOPICSTags: Federal Reserve, Nonfarm Payrolls
US equities ended higher on Tuesday following the release of employment data from United States which reaffirms expectations for interest rate cut later this year. According to JOLTs, US job openings fell to its lowest level in 3 years with 8.059 million vacancies for April.
The report shows significant reduction in job vacancies which suggests easing in labour market tightness that would indirectly affect inflationary pressure. It also came after a series of data which suggests economic cooling, further emphasizing the need for a rate cut to ensure smooth economic progression.
(S&P 500, Daily Chart, TradingView)
In the meantime, investors will look forward for the release of Nonfarm Payrolls report which could reaffirm Fed’s likelihood for policy adjustment later this year. As of writing, Dow Jones rose 0.36% to 38,7111, S&P 500 gained 0.15% to 5,291 and Nasdaq inched up 0.17% to 16,857.
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Ultima Markets, a trading name of Ultima Markets Ltd, is authorized and regulated by the Financial Services Commission "FSC" of Mauritius as an Investment Dealer (Full-Service Dealer, excluding Underwriting) (license No. GB 23201593). The registered office address: 2nd Floor, The Catalyst, 40 Silicon Avenue, Ebene Cybercity, 72201, Mauritius.
HuaPrime EU Ltd, registered number HE423188, and with a business address at Georgiou Griva Digeni 122A, Kallinicos Court, Shop 1—Upper level, Neapolis, 3101 Limassol, Cyprus, is regulated by the Cyprus Securities and Exchange Commission, which has CIF license number 426/23.
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