Gold Micro Futures Market News and Commentary
What you need to know…
The S&P 500 Index ($SPX) (SPY) today is down -0.11%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.03%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.15%.
Stocks are mixed after a smaller-than-expected increase in Nov ADP employment bolstered speculation the Fed is done raising interest rates and will begin cutting them next year. Stocks found some support earlier on today’s reports that showed U.S. Q3 nonfarm productivity was revised higher and Q3 unit labor costs were revised lower, dovish factors for Fed policy.
On the positive side for stocks, Campbell Soup is up more than +6% after reporting Q1 adjusted EPS above consensus. Also, airline stocks are moving higher after the International Air Transport Association (IATA) forecasted airline industry profits to reach $23.5 billion this year, more than double the prediction made in June. In addition, SentinelOne is up more than +18% after reporting Q3 revenue above consensus a... Read more