Trading volatility: incoming US jobs data
Looking ahead to the week starting Monday 1 April, a market holiday in some areas, there’s likely to be a US jobs theme build that could stir more record highs for the S&P 500.
On Tuesday there’s US JOLTs, or job openings, then on Wednesday private payroll numbers with the ADP release and Friday’s distribution of the Labor Department’s non-farm payrolls. IGTV’s Jeremy Naylor looks at the prospects for the S&P 500.
(AI Video Summary)
US jobs data's potential impact on trading volatility
Next week, there are some important releases of US jobs data that could have an impact on trading volatility. On 2 April, we will see the release of job openings, followed by private payrolls from ADP and their employment change on 3 April. Finally, on 5 April, the Labour Department will release the March non-farm payrolls figure. These numbers are expected to confirm the strong performance of the US economy. Also, with the absence of significant inflation, there may be a possibility of the Federal Reserve dropping interest rates in June.
Watching the S&P 500
So far this year, the index has risen by 10.39% and is currently just below its highest point ever. Based on the current positive trend, it is predicted that the S&P 500 will continue to reach new record highs. Its highest point of 5,262 was achieved on 21 March. With the expected positive jobs report next week, it is anticipated that the US markets, including Wall Street and the S&P 500, will continue to make gains and potentially reach new record highs.
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