Nasdaq Technical Analysis – The market reassesses the US labour market outlook ...Middle East

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Fundamental OverviewThe Nasdaq bounced strongly from the lows yesterday following good US Jobless Claims figures as the data quelled some of the fears around the labour market after the weak US NFP report last Friday. The market pricing for rate cuts eased a bit but remains quite elevated with a 55% probability of a 50 bps cut in September and a total of 103 bps of easing by year-end. If the NFP report was indeed negatively impacted by Hurricane Beryl, which is what has been transpiring from the data, then we can expect the market to go back to the old script of resilient growth and positive risk sentiment.Moreover, the Japanese markets shouldn’t be a problem anymore given that the Japanese

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Last updated : 09 August 2024 clock 12:36 PM

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Nasdaq Technical Analysis – The market reassesses the US labour market outlook ...Middle East

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