Jobless claims increased by 8% WoW amid several technology sector layoffs. The efficiency efforts of several technology issuers in order to maintain healthier performance, along with the results of the FOMC Meeting Minutes on Wednesday local time, which showed the FFR increase may soon slow down. Other than that, the Nasdaq appreciated by 100 points, leading Wall Street’s gains. As for US Initial Jobless Claims, the data for the week ending Nov. 19 recorded 240K claims (+8% WoW). Another opinion stated that this week’s jobless claims data was relatively biased at the beginning of the holiday season, as companies are temporarily closed and slowed their hiring, indicating the US labor market remains solid.
Investors are paying attention to the FOMC Meeting Minutes results, which show that the Fed may begin to loosen the pace of FFR hikes. These Fed minutes become a complement to other US economic data, such as the Oct. Unemployment Rate, which rose to a level of 3.7% (vs. Sept. 3.5%), and inflation slowed down within both the CPI and PPI levels. For the record, Oct. US CPI Headline was at 7.7% (Vs. Sept. 8.2%); and Oct. US PPI Headline was 8.0% (Vs. Sept. 8.4%). Amid several external sentiments, NHKSI Research projects that JCI today will tend to move sideways.
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