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HomeLatest NewsGlobal NewsMarket Watch: Payrolls Report, Apple Layoffs, and Yellen's China Visit Stir Up...

Market Watch: Payrolls Report, Apple Layoffs, and Yellen’s China Visit Stir Up Market Sentiment.

Market Watch:- Dow futures jumped 70 points, or 0.2%, S&P 500 futures 16 points, or 0.3%, and Nasdaq 100 futures 72 points, or 0.4%.

The US jobs report awaits release, revealing Federal Reserve interest rate cut clues, with Apple announcing its first job cuts since the pandemic.

US nonfarm payrolls

The US nonfarm payrolls report, due for release later in the session, could potentially impact the case for a first Federal Reserve rate cut in June. Fed officials, including Chair Jerome Powell, have emphasized the need for further data study before a rate-cutting cycle begins. Expectations for nonfarm payrolls to increase 212,000 jobs in March, a drop from 275,000 the previous month, are also expected.

Apple Layoff

Apple has announced the layoff of over 600 workers in California, marking its first major job losses since the pandemic. The move comes after Apple canceled a project for an electric self-driving car. The tech giant has had a challenging 2024, with its share price down 12%. Apple’s iPhone sales in China fell 24% in the first six weeks.

Janet Yellen China visit

US Treasury Secretary Janet Yellen is visiting China for a five-day visit to ease tensions between the two largest economic powers. Yellen calls for a level playing field for American companies and workers, while highlighting China’s excess factory capacity and growing exports as potential trade issues.

Economic Calendar

8:30 Non-farm payrolls
8:30 Fed’s Collins Speech
9:15 Fed’s Barkin Speech
11:00 Fed’s Logan Speech
12:15 PM Fed’s Bowman Speech
1:00 PM Baker-Hughes Rig Count
3:00 PM Consumer Credit

Must read book about investing – check hereMarket WatchMarket WatchMarket WatchMarket Watch Market Watch Fed Meeting Fed Meeting Fed Meeting Fed Meeting Fed Meeting Fed Meeting Fed Meeting Fed Meeting

U.S. inflation data for February is expected to provide insights into the future direction of Federal Reserve monetary policy. The overall consumer price index (CPI) is expected to match the previous month’s pace of 3.1% annually, with the core CPI expected to slow to 3.7% from 3.9% in January. However, the month-on-month gauge is expected to shed light on price gains momentum.

Fed officials have made cooling inflation the main objective of interest rate hikes, which have brought borrowing costs to over two-decade highs. They suggest cuts may be coming later this year, but need more evidence that price growth is sustainablely easing back down to their 2% annualized target. Analysts at ING believe inflation is likely too hot for comfort.

U.S. inflation data for February is expected to provide insights into the future direction of Federal Reserve monetary policy. The overall consumer price index (CPI) is expected to match the previous month’s pace of 3.1% annually, with the core CPI expected to slow to 3.7% from 3.9% in January. However, the month-on-month gauge is expected to shed light on price gains momentum.

Fed officials have made cooling inflation the main objective of interest rate hikes, which have brought borrowing costs to over two-decade highs. They suggest cuts may be coming later this year, but need more evidence that price growth is sustainablely easing back down to their 2% annualized target. Analysts at ING believe inflation is likely too hot for comfort.

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