Important data is out! Will the Federal Reserve slow down the pace of interest rate cuts? Latest forecast

On Friday local time, the latest non farm payroll data for September in the United States showed that the labor market was better than Wall Street's expectations, easing market concerns about an economic recession. Boosted by this, the three major stock indexes in the United States opened higher on the same day and all closed with gains. As of the close, the Dow Jones Industrial Average rose 0.81%, the S&P 500 index rose 0.90%, and the Nasdaq rose 1.22%. In terms of sectors, the 11 major sectors of the S&P 500 index rose nine times and fell two times. From a full week perspective, the Dow Jones Industrial Average has risen by 0.09%, the S&P 500 Index has risen by 0.22%, and the Nasdaq has risen by 0.1%. The three major stock indexes in the United States have all risen for the fourth consecutive week, with the S&P energy sector experiencing a cumulative increase of over 7% this week, the largest weekly increase in nearly two years.

The number of new non farm payroll jobs and unemployment rate in the United States in September were both better than expected

The report released by the US Bureau of Labor Statistics on Friday showed that the number of new non farm jobs added in the United States in September was 254000, far exceeding the previous market expectation of 150000. In addition, the US unemployment rate fell to 4.1% in September, lower than market expectations of 4.2%. Analysis suggests that the latest data has eased investors' concerns about the labor market cooling too quickly, which may slow down the pace of interest rate cuts by the Federal Reserve. After the data was released, the market lowered its bet that the Federal Reserve would cut interest rates by 50 basis points in November, and currently expects the probability of the Fed cutting interest rates by 25 basis points in November to exceed 90%.

Electric car manufacturer Rivian's stock price fell on the 4th, dropping more than 50% this year

On the company side, the stock price of American electric vehicle manufacturer Rivian Automotive fell 3.15% on Friday. The company announced that its third quarter car delivery volume was lower than analysts' expectations, and also lowered its 2024 full year production target. Rivian stated that the reduction in production targets is due to production disruptions caused by component shortages, and the impact of supply shortages has become more severe in recent weeks. Affected by lower than expected global demand for electric vehicles, Rivian's stock price has fallen by over 50% since 2024.

On the 4th, the three major European stock indexes fluctuated in their rise and fall

On the European side, the market lowered its expectations for interest rate cuts from the European Central Bank and the Bank of England. On Friday, the three major European stock indexes fluctuated, with the UK stock market falling by 0.02%, the French stock market rising by 0.85%, and the German stock market rising by 0.55%.

International oil prices rise on the 4th, with a significant cumulative increase throughout the week

In terms of crude oil futures, the market continues to worry about the escalation of tensions in the Middle East leading to disruptions in oil supply. On Friday, international oil prices continued their upward trend from previous days. As of the close, the price of light crude oil futures for November delivery on the New York Mercantile Exchange closed at $74.38 per barrel, an increase of 0.91%; The London Brent crude oil futures price for December delivery closed at $78.05 per barrel, an increase of 0.55%. Looking at the whole week, US crude oil has risen by 9.09%, the largest weekly increase since March 2023, while Brent crude oil has risen by 8.43%.

International gold prices fell on the 4th, with a slight decline this week

In terms of gold prices, the market's expectation of aggressive interest rate cuts by the Federal Reserve has cooled down, leading to a strengthening of the US dollar and an increase in US bond yields, causing international gold prices to fall under pressure on Friday. As of the close, the gold futures market for December delivery on the New York Mercantile Exchange closed at $2667.8 per ounce, a decrease of 0.43%. International gold prices have fallen slightly by 0.01% this week.

CCTV reporter: Qu Shasha