[Events] NFP Week: Will the S&P 500 Hit a New High?
This week, the market is gearing up for the release of the crucial Non-Farm Payroll (NFP) data, which could have a significant impact on the S&P 500. Today, we're inviting all Tigers to join our S&P 500 Closing Price Prediction Challenge! The first Tiger to accurately predict the S&P 500 closing price this week will win Tiger gifts.
📈 Non-Farm Payroll (NFP) Data
The NFP data is a key indicator of the health of the U.S. economy and often has an immediate effect on the stock market. With July's NFP numbers falling far short of expectations and the unemployment rate triggering the recession indicator with a 100% accuracy rate—the Sahm Rule—market fears have been ignited. Traders began betting on a 50-basis-point rate cut in September, with predictions that rate cuts this year could exceed 110 basis points.
As a result, The upcoming U.S. non-farm payroll report next week will be crucial in determining the size and pace of the Fed’s forthcoming rate cuts.This data will play a significant role in the Federal Reserve's interest rate decisions at their September 17-18 policy meeting. Currently, the market widely expects the Fed to begin a rate-cutting cycle at this meeting, with a 69% probability of a 25-basis-point cut and a 31% probability of a 50-basis-point cut.
According to Bloomberg's survey, economists generally expect U.S. August NFP employment to increase to 165,000 from 114,000 in the previous month, with the unemployment rate dropping by 0.1 percentage points to 4.2%, indicating resilience in the job market.
Can you predict how will $S&P 500(.SPX)$ close on Friday 6 September? The first Tiger to accurately predict the S&P 500 closing price will have the chance to win Tiger gifts.
🔮 How to Participate
Comment below with your prediction for the S&P 500’s direction (bullish or bearish) and your reasoning.
🎁 Prizes
All participants who comment with their prediction and reasoning will receive 10 Tiger Coins.
The first Tiger to accurately predict the S&P 500 closing price for the week will win Tiger gifts.
We’ll also randomly select one Tiger who shares insights or analysis on the NFP data to receive a $5 stock voucher.
⏰ Event Duration
September 2, 2024 - September 6, 2024, 16:00.
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based on Bloomberg's survey, economists generally expect U.S. August NFP employment to increase to 165,000 from 114,000 in the previous month, with the unemployment rate dropping by 0.1 percentage points to 4.2%, indicating resilience in the job market.
predicting that it'll be bullish, gotta keep the faith [Sly]
@GoodLife99 @Shyon @Aqa @LMSunshine @koolgal @Universe宇宙 @HelenJanet @SPACE ROCKET @rL @TigerGPT
Comment below with your prediction for the S&P 500’s direction (bullish or bearish) and your reasoning.
🎁 Prizes
All participants who comment with their prediction and reasoning will receive 10 Tiger Coins.
$SPDR S&P 500 ETF Trust(SPY)$
$Vanguard S&P 500 ETF(VOO)$
$Nasdaq100 Bull 3X ETF(TQQQ)$
$Invesco QQQ Trust-ETF(QQQ)$
i assume the rotation from big tech will continue for a few more weeks before market start rolling back from mid oct 24 onwards.
Closing price : 5500