Still "FAANG"-tastic On A Gloomy Tue (09 May) Market Outlook ?
@JC888:
US stock composite index for Mon, 08 May 2023 In my daily discussion post for Mon, 08 May, I have mentioned that $Occidental(OXY)$ should be consolidating ahead of its first quarter earnings for year 2023. (click here to read. Give a “LIKe” ok). Reason being, US market is faced with the following 4 head winds: US Non-farm payroll for May 2023 US Non-farm payroll for May 2023 came in at 253,000 jobs; an additional 88,000 jobs (+53%) from April’s 165,000 jobs. Even beating market expectations of 180,000 jobs. This will not be music to the Feds ears because it is hoped that labour market would continue to soften; complimenting falling inflation. Will the latest data result in the Fed