To The Moon

Summary of Last Session

Stocks continued their upward trajectory, buoyed by Jerome Powell's testimony and anticipation surrounding President Biden's State of the Union address.

The $S&P 500(.SPX)$ reached a new record high, marking its 16th of the year, while the Dow Jones Industrial Average and the $NASDAQ(.IXIC)$ also posted gains.

ATH

$Tesla Motors(TSLA)$ $NVIDIA Corp(NVDA)$ $Apple(AAPL)$

Active stocks

• Key Events of the Session

President Biden's State of the Union address tonight is expected to outline his administration's economic plans, including proposals such as an increased child tax credit and potential tax hikes on corporations and the wealthy. Investors are keenly interested in the economic implications of these plans.

Today's jobs report for February will provide crucial insights into the state of the U.S. economy, particularly regarding employment growth and inflation trends. Economists' predictions vary widely, reflecting the volatility typically observed in February data due to weather factors.

Market Scenario

Investors are closely monitoring the potential impact of President Biden's economic proposals and await today's job report to gauge the trajectory of the U.S. economy…

The number of problem banks in the US has jumped by 18 per cent, regulators warned, as New York Community Bank was stabilised by a $1bn capital raise led by former US Treasury secretary Steven Mnuchin. The Federal Deposit Insurance Corporation said on Thursday that the number of weak US banks had risen by eight to 52 in the final three months of 2023, the biggest jump since the demise of SVB.

The Bureau of Labor Statistics releases the jobs report for February, the consensus estimate is for an increase of 200,000 nonfarm payrolls, while the unemployment rate is expected to remain unchanged at 3.7%.

NFP

January jobs growth surprised to the upside, as it has for much of the past two years. The economy added 353,000 jobs in the first month of the year, more than double expectations.

Jerome Powell's recent remarks hint at a potential shift in Fed policy towards interest rate cuts if inflation signals align…

Conclusion

The upcoming State of the Union address and the February jobs report are pivotal events for investors, offering insights into economic policies and the health of the U.S. labor market. These developments will likely influence market sentiment and future monetary policy decisions.

The information provided is for informational purposes only and should not be construed as financial advice. Investors should conduct their own research and consult with a financial advisor before making investment decisions.

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