February wages in the US
Nice Friday night, like every month we have the end of the week reports around unemployment and I see the numbers haven't dropped yet today. So, in a nutshell, the report shows that U.S. employers created 275,000 job openings in February, more than expected according to economists surveyed by The Wall Street Journal, around 198,000. The unemployment rate is 3.9%. Economists had expected a rate of 3.7%.
The news is a positive for the Fed as it shows a slight cooling in the labor market and that is what Jerome Powell and others want. Even so, we still see the indices falling at the end of the day today. Nvidia, for example, erased gains from earlier in the day and is down almost 6% so far.
As you investors close out the week, is today just a "profit taking, minor correction" that is normal or are we in for another week of a reversal in the bullish trend in the stock market? 😊
Pretty good unemployment... It would be nice to go a little higher.
Friday wasn't much of a success, I sold a few $CSPX.L+0.0% at the beginning and bought a few $QS+2.3% I would have done better if I had waited until the end. But I did reduce my QS buying a bit and so overall the week is OK.