SEP 02. China may extend COVID LOCKDOWN to March, 2023.
FED is making their way to the direction they want for sure. Some economic indicators are showing clearly that US economy is slowing down.
Today’s highlight was the job market report in the USA.
To make it all short, people got more jobs than expected in August but the unemployment rate was up to 3.7%.
Is this right direction or wrong? Who could answer that easily? But the US economy is slowing down for sure.
Now, the only big economic indicator in the market is Aug’s CPI numbers before FOMC meeting in Sep 22.
Until then, financial and equity markets could be all around the places.
Squaring off, evening out were the key words for today’s market for the long weekend in the US markets.
There is no market on next Monday as the Labor day in the USA.
DJ Index was downed by 1.1%, S&P 500 index was downed by 1.1% and NASDAQ was downed by 1.3% today.
US stocks market has been down closed for the three weeks in a row.
Apple was downed by 1.4%, Amazon was downed by 0.2%, MS was downed by 1.7% and Tesla was downed by 2.5% today. Overall traded volume was only 9.9 billion shares, relatively smaller than last 20 days average volume as 10.5 billion shares. It’s the bear market with full of hawkish policy makers out there.
US dollar index was not moving a lot today. Ended at $109.61, off 0.07% from yesterday. At least, stayed under 110 levels which is the 22 year’s high region thought and it looks like pure technical reasons because China is in more COVID self-lockdowns and EU is showing some strong signs of recessions because of Russian.