Major Indices
| Index | Performance |
|---|---|
| S&p 500 | -1.16% |
| DOW Jones | -0.3% |
| NASDAQ | +1.93% |
| FTSE 100 | -3.65% |
| DAX | -3.37% |
| Nikkei 225 | -3.37% |
| Shangai Composite | -0.17% |
Sector Performance
SPX Technical Analysis
US Jobs Report Release
- US unemployment rate fell to 3.6% in this month’s Jobs Report, meeting expectations
- US employers have added jobs for 30 consecutive months
- Total nonfarm payroll employment increased by 209,000 vs 240,000 expected. Led by government hiring
- More women are working than ever before
- Wages rose 4.4% from a year ago, beating expectations slightly
US Unemployment rate
There is a 92.4% prediction that we will see a quarter percentage increase to interest rates by the FED in July, who are concerned that inflation is not returning to the desired 2% rate. The FED expect to make two more hikes in 2023. Next FOMC Meeting 25-26th July
Other Headlines
- UK Banking chiefs faced court for failing to provide interest rates to customers that fairly reflect the Bank of England’s rate.
- UK mortgage rates soar, as houses suffer steepest price decline in the last 12 years
- Janet Yellen (US Treasury Secretary) took a trip to Beijing and said there is “ample room” for US and Chinese companies to boost trade and investment, despite security tensions.
- Janet Yellen also asked China to cooperate on climate change action. US and China remain the two largest producers of greenhouse gases
- The BRICS alliance has received applications from 25 nations to join them and ‘ditch the U.S. dollar’.