- The US stocks had declined by 0.2% this morning After another high of the S&P 500 index yesterday. Macrodata look weaker – the expenses for consumers have dropped in May and the labor market is deteriorated for employees. This indicates that the FED can reduce interest in September, say analysts what stocks would be good.
Consumer expenditure weakens. The labor market is getting worse for employees. And US stock investors love it.
The S&P 500 rose by 0.52% yesterday and reached the second day in a row an all -time high. The S&P 500 futures fell by 0.2% this morning, Premarket, which points out that investors don’t expect anything dramatic like a mass sale.
Why the joy in relation to so much misery? Because the deteriorating macro image indicates that the US Federal Reserve can reduce interest rates sooner than later. And cheap money is usually good for stocks.
The stock market increases to “the wall of concern”, as Goldman Sachs was deleted in a note from the grade of Assets. The US jobs will be a key event this week.
The Pantheon macroeconomics expects that it is not gratic: “We are looking for a salary statement in June by 100,000. On Thursday, with private jobs increasing at the same pace, as well as an increase in unemployment rate of 4.3% in May. Inflation increases the tariffs,” said Samuel Tombs and Oliver Allen to customers.
Consumer expenses are also softer. It decreased by 0.3%in May, the month around month.
If inflation remains low, the Fed can move in September, Goldman said.
“We are making our forecast for the next (FED rate) until September. We had previously expected a cut in December because we thought that the monthly effects on the monthly inflation of peak times would be uncomfortable earlier. But the very early evidence indicates that the tariff effects look a little smaller than we expected, other disinflation forces are strong. Finding a job and the changes in the remaining seasonality and immigration policy form the risk of salary statements at short notice, ”Jan Hatzius and his team told customers in a note.
Here is a snapshot of the campaign in front of the opening bell in New York:
- S&P 500 Futures had dropped by 0.2% this morning, Premarket.
- The S&P 500 He stood by 0.52% yesterday and reached an all -time high for the second time in a row.
- Japan’s Nikkei 225 Sold this morning of 1.24%.
- Hong Kongs Hang Seng had also dropped by 0.87%.
- The Stoxx Europa 600 was slightly downhill in early trade.
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