3/2:Strong Job Data Reduced Gains🫠 & 🇺🇸Market-Stocks Overview🕵🏻♀️🕵🏻♂️
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.
Please help to click on the “Like” & “Share/Repost” buttons at the bottom right corner so that more 🐯🐯🐯 can access this information, many thanks🤗🥰
As usual-🤔💭 Consider POV & Actions of investors + 👩🏻💻👨🏻💻 Research + 🗑FOMO & Greed = Investing Wisely 🤓🤗 + Accumulating Wealth 💵💰
@TigerStars @CaptainTiger @MillionaireTiger @Daily_Discussion
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Interesting analysis!