The US stock markets closed higher on Friday after a key job report gave investors a clearer image of the economy and the possible trimming of interest rates of the Federal Reserve. The Dow Jones industrial average increased by approximately 0.3%, while the S&P 500 won 0.2%. The Nasdaq compound centered on technology saw a similar increase of 0.3%.
The November job report showed that the economy added 227,000 new jobs, slightly exceeding expectations. This strong performance occurred after a weaker October due to severe climate and labor strikes. However, the unemployment rate unexpectedly increased to 4.2%, surprising analysts. In spite of this, the report achieved a balance, sufficient growth of employment to show economic resilience, but not so strong as to rule out the possibility of features of fees by the Fed.
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After the report, market expectations changed, with the CME Fedwatch tool that now shows 88% chance that the FED reduces rates by 0.25% on December 18, compared to 70% before the data was published.
The Bitcoin rally, which previously pushed the cryptocurrency beyond $ 100,000 for the first time, showed cooling signs, quoting around $ 98,000. Some investors are now covering the possible falls after the increase. The impulse in the value of Bitcoin was promoted by the expectations of support for digital currencies under the president -elect Donald Trump, who appointed former PayPal Operations Director David Sacks as the new “AI and Crypto Tsar of the White House”.
In the corporate world, the actions of Lululemon and Uulta Beauty increased in trade prior to commercialization after both retailers increased their earnings. This news reassured investors about their strong growth potential and solidified their positions as leaders in their respective markets.
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(Tagstotranslate) Update of the US Stock Market
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