Monthly Archives: October 2024
41654156156Will PCE and NFP Boost Chances of Slower Rate Cuts?
Written on October 24, 2024 at 9:15 am, by pumarketings
Wednesday, 30 October 2024, 14.15 – ADP Nonfarm Employment Change (Oct) The U.S. private payrolls increased more than expected in September, boosted by hiring in the construction, leisure and hospitality industries, adding to the evidence of a stable labor market. Private payrolls increased by 143,000 jobs last month after rising by an upwardly revised 103,000Continue Reading
Heighten Geopolitical Tension Hit on Wall Street
Written on October 24, 2024 at 6:03 am, by pumarketings
Market Summary Wall Street was hit hard by the escalating geopolitical tensions in the Middle East, with Israel and Hezbollah exchanging heavy fire. The Dow Jones led the decline, closing around 400 points lower, marking a nearly 2% drop from its all-time peak. As earnings season progresses, market participants are bracing for volatile price actionContinue Reading
Pound Sterling Declines as Likelihood of BoE Rate Cut Rises
Written on October 24, 2024 at 2:08 am, by pumarketings
Fundamental Analysis * Rising Odds: The British pound has continued to decline, hitting a ten-week low as dovish sentiment and growing expectations of a Bank of England (BoE) rate cut in November put pressure on the currency. Falling consumer and producer inflation figures, along with weak labor market data in the UK, are driving forecastsContinue Reading
