- 5 December 2022
- Posted by: Federica Montella
- Categories: eToro CopyTrader, Investing
US stocks’ reaction to the Jobs report
Last Friday has been released November’s job report and the markets started to decline.
That is because the data was higher than expected and we still live in a world where bad news for the economy is good news for stocks.
The bad news can lead to the end of the Federal reserve’s interest rate hikes and can send stocks rallying.
China’s slowdown
During the weekend, in China, the authorities have decided to ease the Covid testing requirements in most big cities.
Starting today, Chinese people can enter parks and other outdoor venues as well as use public transport without showing a negative PCR test.
Dollar weakness
The dollar plays an important role in the global economy.
The dollar is 8% down from the most recent high and it is trading below its 200-day average.
When the dollar is so weak, usually means that is a positive sign for the stock market as stocks tend to go up.
PMI data
Today at 15:00 GMT, the Institute for Supply Management will release the November ISM Non-Manufacturing Purchasing Managers Index (PMI) and following the market, volatility can be higher than usual.
Federica Montella
eToro Popular Investor
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