Afternoon Note
Stocks are higher despite jobs missing consensus. But August numbers held up well, the U.S. added 130k jobs, average hourly earnings were stronger than forecast at 3.2% year-on-year, and labor force participation rate rose two-tenths to 63.2%.
However, investors were awaiting Fed President Jerome Powell’s speech in Zurich for signs about future monetary policy. He said the Fed isn’t forecasting a recession for the U.S. or the globe, affirming he sees moderate growth ahead for the U.S. economy. As with his Jackson Hole speech last week, Powell’s comments leaned a bit less dovish than some had hoped.
Nine of the 11 S&P 500 sectors are higher, with materials and consumer discretionary sectors leading the way. The Communication Services and Utilities sectors are the laggards.
S&P 500 Index |
+0.28% |
|
Communication Services (XLC) |
-0.12% |
|
Consumer Discretionary (XLY) |
+0.42% |
|
Consumer Staples (XLP) |
+0.38% |
|
Energy (XLE) |
+0.27% |
|
Financials (XLF) |
+0.27% |
|
Health Care (XLV) |
+0.33% |
|
Industrials (XLI) |
+0.38% |
|
Materials (XLB) |
+0.58% |
|
Real Estate (XLRE) |
+0.05% |
|
Technology (XLK) |
+0.09% |
|
Utilities (XLU) |
-0.18% |
Tweet |
3/28/2024 1:39 PM | Fruitful Quarter |
3/28/2024 9:50 AM | LISTEN TO THE MARKET |
3/27/2024 1:40 PM | Mostly Higher |
3/27/2024 9:32 AM | U-TURN? |
3/26/2024 1:08 PM | Everything Is Up |
3/26/2024 9:42 AM | TAPPED OUT (I HOPE YOU AT LEAST GOT A T-SHIRT) |
3/25/2024 1:33 PM | Not A Mutiny |
3/25/2024 9:35 AM | STAYING THE COURSE…BEYOND TECH |
3/22/2024 12:56 PM | Toll on Americans |
3/22/2024 9:38 AM | A TAD TIRED |
3/21/2024 1:55 PM | Building on Gains |
3/21/2024 9:30 AM | A COMFORTING FED |
3/20/2024 1:33 PM | Pivotal Moment |
3/20/2024 10:00 AM | HERE COMES THE FED |
3/19/2024 1:33 PM | Picking Up Steam |
3/19/2024 9:35 AM | RUMBLINGS IN THE BOND MARKET |
3/18/2024 1:48 PM | Mag 7 is Back |
3/18/2024 9:39 AM | THE PARTY IN SAN JOSE WILL BE LIT |
3/15/2024 1:38 PM | Realtors Settle |
3/15/2024 9:33 AM | AN UNEASY PAUSE |
3/14/2024 1:43 PM | Sticky Inflation |
3/14/2024 9:48 AM | GOING TO A GO-GO |
3/13/2024 2:16 PM | Taking a Breather |
3/13/2024 9:51 AM | ALL SO EPIC |
3/12/2024 1:42 PM | Marching Higher |
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