3/2(Fri ) ➡️ The VIX climbed dropped 2.14% to close at 18.33 but the indexes still ended lower after surprisingly strong jobs data sparked concerns about aggressive Fed action, while investors digested a mixed bag of megacap company earnings reports. The DJIA, S&P 500 & Nasdaq dropped 0.38%, 1.04%, & 1.59% respectively🫠🫠🫠
👍 The S&P 500 still posted a gain for the week, which included a string of major market events, & stood not far from 5-month highs. 👍 The Nasdaq tallied its 5th straight weekly rise, its longest such streak since late 2021.
⭐️ Job growth in 🇺🇸 accelerated sharply in Jan with nonfarm payrolls surging by 517,000 jobs, well above an estimate of 185,000. The unemployment rate hit a more than 53-1/2-year low of 3.4%.
⭐️ In another sign of economic strength, services industry activity rebounded strongly in January.
🤔💭 My Thoughts: Fed slowed rate hikes even further with just a 25bps increase & Powell has already acknowledged that the "disinflationary" process may have begun. Hence, the sell-off is unlikely due to investors being fearful of what Fed might do (as supported by the lower VIX) but rather investors wanting to securing profits after a stellar Jan rally.
🔎Sector-Stock Trend Analysis:
(1) Except for AAPL that gained 2.44%, popular tech stocks all 🛝🛝🛝 0.27%-8.43% with AMZN being the biggest loser due to an earnings miss 🙈🙉🙊
(2) Popular chip stocks dropped 0.27%-2.81%🫠
(3) Popular 🇨🇳 stocks all dropped 1.85%-5.29% as HKEX sell-off🐻
$Bilibili Inc.(BILI)$(4) On the EV front, GOEV & TSLA gained while the rest declined.
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As usual-🤔💭 Consider POV & Actions of investors + 👩🏻💻👨🏻💻 Research + 🗑FOMO & Greed = Investing Wisely 🤓🤗 + Accumulating Wealth 💵💰
@TigerStars @CaptainTiger @MillionaireTiger @Daily_Discussion
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