Beat the street: ADP payrolls; Fed rate decision; JOLTS
The ADP payrolls report shows the job creation rate has gone down, which is causing some concern in the market. Markets are eagerly awaiting the Fed's rate decision, which is largely expected to remain unchanged.
(Video Transcript Summary)
US jobs creation rate falls short of expectations
In this edition of Beat the street, host Jeremy Naylor first mentions that job creation rates, as reflected in the ADP payroll data, are lower than what experts predicted. However, all eyes are now on the US interest rate decision from the Federal Reserve (Fed), which is anticipated to remain unchanged.
Additionally, Jeremy highlights the upcoming JOLTS data and the Bank of England meeting, which are expected to impact the markets.
Moving on, Jeremy delves into the details of the ADP payroll figures, revealing that only 113,000 jobs were created, falling short of expectations. He explains that economists believe the Fed will maintain their current interest rates and eagerly await the JOLTS data for more insights.
Can we trust the ADP job figures?
Providing an overview of the market, the speaker notes that trading is stable and Europe is experiencing light volumes. As for the US markets, they are projected to trade similarly to the previous day, prompting a discussion on the euro-dollar and US Tech 100 currency pairs using technical analysis.
Jeremy then switches gears and offers an interview with Christopher Vecchio from tastylive. Vecchio shares his thoughts on the market and the upcoming Fed's interest rate decision. He argues that the ADP job figures might not be entirely reliable and assures that no rate cuts are expected from the Fed. Vecchio also delves into the impact of oil prices on inflation and the economy, adding depth to the conversation.
AMD, AIG worth watching
Jeremy provides a glimpse into which stocks to watch, specifically highlighting Advanced Micro Devices (AMD) and American International Group (AIG). He discusses the recent third-quarter earnings report of AMD and provide insights into expectations for AIG's upcoming earnings report.
The video closes by exploring the recent surge in oil production and its effect on oil prices. Notably, Jeremy also touches upon the potential rise of gold prices as investors seek safe havens. The report concludes with a mention of the upcoming Apple earnings report and an eagerly anticipated Bank of England meeting, both of which promise to impact the financial markets.
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