The ADP National Employment report is expected to show private payrolls increased by 950,000 last month after a disappointing 167,000 rise in July. The report follows encouraging manufacturing sector surveys on Tuesday.
As the COVID-19 pandemic rages on, signs that the recovery in the labor market was faltering has been a worry for investors. The more comprehensive monthly jobs report is slated for Friday. The U.S. Federal Reserve’s move to revamp its policy framework to support the economy back to full employment has fueled a Wall Street rally, and sent the S&P 500 and Nasdaq to new closing highs.High-flying shares of technology companies, seen as resilient to the hit from the coronavirus outbreak, including Apple Inc (
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Welcome 2020’s dot-com boom.
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Nasdaq ends higher while S&P 500 posts biggest August gain since 1986While the S&P boasted its steepest August percentage gain in more than three decades it ended Monday slightly lower and the Dow also lost ground as investors took a pause although the Nasdaq closed higher thanks to high-flying stocks including Apple Inc. * 7% government subsidized growth from $2T bailout We're all rich! When the bandaids get ripped off, the gaping wounds underneath are going to be ugly and festered. SmokeAndMirrors
Source: Reuters - 🏆 2. / 97 Read more »
Stock market live updates: Dow clinches best August since 1984, tech leads, Tesla surgesLeon Cooperman on the Fed’s coronavirus response and a “dramatic expansion of market valuations”: “Frankly, the president should kiss the chairman on all four cheeks in my opinion.” Maybe he will, but first his Sponsor, Putin (who may now give permission for DT to kiss someone else's cheeks, after their very successful Bounty Agreement (where our dog in that hunt got much more than bones!)! Funny how CNBS still think the term sell in may go away is a thing it hasn't been a thing in 5 years now. This is why CNBS is so bad at their job they are stupid ppl on these shows. LOVE this guy - a voice of reason in a sea of irrational exuberance! DUMB MONEY pays when the party is over. Anyone buying into this market at these valuations is PAYING FOR THE PARTY.
Source: CNBC - 🏆 12. / 72 Read more »