NEW YORK / LONDON (IT BOLTWISE) – US stock markets are stable despite recent economic data sending mixed signals. Despite fluctuating labor market and retail data, expectations of a further rate cut by the Fed remain. Analysts see the current development as a confirmation of monetary policy measures, while the market is reacting to a possible economic slowdown.
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The stability of the US stock markets amid mixed economic data shows the markets’ resilience to short-term uncertainties. Despite the recent fluctuations in labor market and retail data, expectations of a further rate cut by the US Federal Reserve remain. This development is seen by analysts as a validation of monetary policy measures aimed at supporting the economy in an uncertain environment.
On Tuesday, the US stock exchanges appeared in a stable condition at the start of trading. The Dow Jones Industrial Average, which hit a record high of 48,887 points on Friday, barely moved and was trading slightly below the previous day’s closing price of 48,412 points. The technology-heavy Nasdaq 100, on the other hand, made the leap into profit and gained 0.21 percent to 25,120 points after weakening for three days in a row.
The delayed release of labor market data for October and November caused mixed reactions. While the significant decline in jobs in October was surprising, November showed a more solid employment situation. According to analysts, this data justifies the Fed’s interest rate cut last week. Despite persistently high inflation, the Fed justified its decision with a noticeable slowdown in the labor market.
The world’s largest economy reported stagnation in retail sales in October, contrary to the expectations of economists who had expected a slight increase. This development could be another indication of an economic slowdown. However, these reports do not appear to have any impact on existing expectations of further rate cuts.
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