| NYSE Traders. © Reuters=News1 |
While the US stock market rallied last weekend, index futures are surging all at once.
As of 18:10 on the 8th (local time), the Dow futures were up 0.06%, the S&P 500 futures were up 0.13% and the Nasdaq futures were up 0.27%.
This is interpreted as the US stock market rally last weekend.
On the 6th, the US stock market surged as the rate of wage growth, which fuels inflation, appeared to have slowed, although the employment index was still solid. The Dow was up 2.13%, the S&P500 2.28% and the Nasdaq 2.56% each.
According to the jobs report released that day, the number of nonfarm jobs in the United States increased by 223,000 in December of last year. That’s higher than the 200,000 projected by Dow Jones, the parent company of the Wall Street Journal.
The unemployment rate also stood at 3.5%, below expectations (3.7%). This shows that the labor market remains solid despite the Fed’s aggressive rate hike.
However, hourly wages only increased by 0.3%. This is 0.4% lower than market expectations. Investors seem to have paid attention to this and have started buying en masse, believing the Fed will slow the pace of rate hikes.
