Overview
The U.S. stock market displayed an upward momentum largely due to revised employment data which prompted speculation that the Federal Reserve might accelerate rate cuts. This unexpected adjustment was the largest since 2002, raising concerns about a potential economic slowdown.
| Nasdaq Composite | S&P 500 |
| Dow Jones Industrial Average | 1 South Korean won equals |
A Major News Story
- Apple announced the iPhone 17 and iPhone Air at a recent product launch, leading to a 1.5% decline in its stock price.
- Google projected that its cloud business revenue would increase by $58 billion by 2027, boosting market indices.
- According to employment data released, non-farm job additions were down by 911,000 from previous reports, the largest revision since 2002.
- The options market anticipates that the S&P 500 will experience approximately a 0.6% fluctuation on CPI release day, lower than the past year's average.
Economic Indicators for Tomorrow
| Time | Event |
|---|---|
| 20:00 | U.S. MBA Mortgage Applications |
| 20: 30 | U.S. August PPI Rate |
| 23 :00 | U.S. July Wholesale Inventory |
| 23: 30 | U.S. EIA Crude Oil Stocks |
| Throughout the Day | U.S. 10-Year Treasury Auction |
General Opinion
With the Federal Reserve's rate cut becoming a focal point this year, analysts are weighing the potential for economic slowdown against rising inflation. The employment shock means upcoming inflation indicators will play a crucial role in shaping economic forecasts. Special attention is advised towards the movements in options markets.
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