Welcome to Extreme Investor Network! Today, we are diving into expert views on the US labor market and the latest trends in the stock market.
Mario Cavaggioni, Portfolio Manager at HY Market, provided insights on the recent jobless claims report. He noted that both jobless claims and continuing claims are showing a lower trend, indicating no sharp deterioration in the labor market.
In terms of US market trends, on September 19, the Nasdaq Composite Index surged by 2.51%, while the Dow and the S&P 500 also saw gains. This positive movement in the equity markets is encouraging for investors.
Looking ahead, investors should pay attention to comments from the Fed, particularly from Philly Fed President Patrick Harker. His insights into the economic outlook, labor market, and Fed rate path could impact demand for DAX-listed stocks.
The near-term outlook for DAX-listed stocks will be influenced by producer price figures from Germany and central bank chatter. It’s important for investors to stay informed and vigilant, especially as futures markets indicate a potential pullback.
From a technical analysis perspective, the DAX remains bullish as it is above the 50-day and 200-day EMAs. A breakout above 19,045 could lead to further gains towards 19,200, while a drop below 19,000 may trigger a pullback.
At Extreme Investor Network, we provide the latest news, analysis, and insights to help you effectively manage your risks and make informed investment decisions. Stay tuned for more updates on the stock market and trading strategies.