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 |
7/2/2025 1:44 PM | Materials' Strength Continues |
7/2/2025 9:38 AM | BARNBURNER |
7/1/2025 1:29 PM | Rotation |
7/1/2025 9:45 AM | FEAR OF MISSING OUT IS CREEPING IN |
6/30/2025 1:24 PM | Steady As She Goes |
6/30/2025 9:54 AM | SUMMER RALLY STARTS |
6/27/2025 1:35 PM | Reaching New Heights |
6/27/2025 9:39 AM | THERE'S MORE! |
6/26/2025 1:10 PM | S&P Approaches Record |
6/26/2025 9:51 AM | CHIPS MOMENTUM CONTINUES |
6/25/2025 1:42 PM | Tech Stocks Power Nasdaq 100 |
6/25/2025 9:47 AM | CLIMBING MOUNTAINS OF WORRY |
6/24/2025 1:47 PM | Peace Rally |
6/24/2025 9:48 AM | PEACE THROUGH STRENGTH: THE MARKET LOVES IT |
6/23/2025 1:47 PM | Getting Some Resolve |
6/23/2025 9:51 AM | BRACING |
6/20/2025 1:29 PM | Second Triple Witching |
6/20/2025 9:38 AM | POWELL BLEW IT |
6/18/2025 12:41 PM | FED Day |
6/18/2025 9:45 AM | ROOM WITH A VIEW |
6/17/2025 1:26 PM | Tension Continues |
6/17/2025 9:50 AM | THE BIG TECH TEN & CO |
6/16/2025 1:34 PM | Fears Subside |
6/16/2025 9:44 AM | DRUMBEATS OF PEACE |
6/13/2025 1:30 PM | Showing Resilience |
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