Softening economic data and recent comments from Fed officials, including Chair Jerome Powell, have heightened expectations that the U.S. central bank has ended its interest-rate-hiking cycle and will begin to cut rates as soon as March. The next Fed policy meeting is scheduled to take place on Dec. 12-13. [Big Tech stock trending downside 12/4/2023] https://www.tradingview.com/chart/META/lURAf3Pj-Mega-Cap-Review/
| ShutterstockStocks closed higher Friday following a strong monthly jobs report to clinch a sixth straight week of gains, with the S&P 500 and Nasdaq Composite hitting their highest closing levels since early 2022. Analysts said the Labor Department's report that November added 199,000 jobs on a seasonally adjusted basis likely keeps the Federal Reserve on pace to hold rates steady at next week's meeting. More broadly, the drop in the unemployment rate to 3.7% combined with rising payrolls and earnings portrays an economy that is easing toward a soft landing and is not on the brink of a recession. For the week, the Nasdaq climbed 0.7%, the S&P added 0.2% and the Dow Jones average finished flat. The focus now turns to the Federal Reserve's last monetary policy committee meeting of the year next week. Markets are widely anticipating the central bank to hold steady on rates. Read Seeking Alpha's Catalyst Watch for a preview of all of next week's major events. |
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