MarketBeat Minute

MarketBeat Minute(2021-06-30)

June 30, 2021 MarketBeat
MarketBeat Minute
MarketBeat Minute(2021-06-30)
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MarketBeat Minute
MarketBeat Minute(2021-06-30)
Jun 30, 2021
MarketBeat
Equity markets continue to creep higher but the move appears to be without conviction. The S&P 500 advanced less than 0.2% to set a new all-time high and led by the tech sector. The NASDAQ Composite advanced less than 0.25% and also set a new high.

The risk for the market this week is in the labor data. The non-farm payrolls report is expected to show 700,000 new jobs created in June and will likely miss the consensus figure by a wide margin. The question is whether job creation will be better or worse than consensus? A better-than-expected NFP figure will take some pressure off the Fed and pave the way for future rate hikes while a weaker-than-expected number would back the Fed further into a corner. If the market doesn't like what it sees rest assured the major indices will fall.

Show Notes
Equity markets continue to creep higher but the move appears to be without conviction. The S&P 500 advanced less than 0.2% to set a new all-time high and led by the tech sector. The NASDAQ Composite advanced less than 0.25% and also set a new high.

The risk for the market this week is in the labor data. The non-farm payrolls report is expected to show 700,000 new jobs created in June and will likely miss the consensus figure by a wide margin. The question is whether job creation will be better or worse than consensus? A better-than-expected NFP figure will take some pressure off the Fed and pave the way for future rate hikes while a weaker-than-expected number would back the Fed further into a corner. If the market doesn't like what it sees rest assured the major indices will fall.