U.S. stocks might be less exposed to the war in Ukraine, but the hit to global growth and inflation can and will eventually drag down the U.S. economy.  Equities declined after Russia seized Europe’s largest nuclear plant. It does not seem like the Kremlin will be backing down any time soon and that is leading to widespread selling of global equities. In the past 24 hours, financial markets went from hoping or talks of a potential ceasefire to seeing the Russians seize a nuclear plant, which now has many investors expecting a much longer military conflict.

NFP

Wall Street will look past this impressive The labor market remains very tight, but what really stood out was that average hourly wages did not jump. The U.S. economy showed hiring picked up as COVID cases declined significantly from the holiday spike.  The U.S. added 678,000 jobs in February, which was much better than the consensus estimate of 423,000 and an improvement from the upwardly revised 481,000 reading in January. Leisure and hospitality, professional and business services, and health-care jobs posted strong gains, just like we saw in the ADP private payroll report.

The fell from 4.0% to 3.8%, and the participation rate ticked higher. Besides appreciating the steady hiring headline, the Fed will pay close attention to the flat wage growth from a month ago. One report does not mean the U.S. economy won’t continue to see rapid wage growth, but if wages stay anchored, the Fed will have a slower rate hiking path initially.

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here