Posted on 12/29/2022 9:45:10 AM PST by entropy12
(Reuters) -Technology and growth stocks lifted Wall Street's main indexes higher on Thursday after data pointing to signs of a cooling U.S. labor market eased worries about future interest rate hikes by the Federal Reserve.
Apple Inc (NASDAQ:AAPL), Alphabet (NASDAQ:GOOGL) Inc, Microsoft Corp (NASDAQ:MSFT) and Amazon.com Inc (NASDAQ:AMZN), whose shares have been battered in the past few sessions, gained more than 2% each, with traders attributing the rise to bargain hunting.
All the major S&P 500 sector indexes rose, with consumer discretionary and technology leading the pack with a near 3% rise.
The Fed's aggressive rate hikes have hammered equities this year, with the benchmark S&P 500 shedding 19.3% and the tech-heavy Nasdaq tumbling nearly 33%.
(Excerpt) Read more at investing.com ...
Because we know jobless claims are always a re-LIE-able indicator. 😁👍
I predict an epic ****storm for 2023.
This is perverted when the stock market goes up, because unemployment goes up.
Because FED is likely to reduce rate increases with rising unemployment. Wall Street, unlike churches, is not a charity outfit. If rates moderate, it helps bottom lines of corporations.
I am keeping plenty of powder dry for 2023.
Best economic news this week and no one likes it. Figures.
“This is perverted when the stock market goes up, because unemployment goes up.”
No, it’s not, it’s the best news this week. A jobless rate below full employment stokes inflation which means more rate hikes for longer and more suffering for everyone. Cleaning up a mess this big requires a little temporary bloodletting.
We’ve all been well-informed for a long time this would be necessary.
I do not feel sorry for the newly unemployed. They will get 99 weeks of unemployment checks.
It is not “necessary.”
Government should be reducing its outlays for its overspending and false inflation of markets, rather than having now unemployed people bear that burden.
“Government should be reducing its outlays for its overspending and false inflation of markets, rather than having now unemployed people bear that burden.”
That’s exactly what the FED is forcing. The cycle will take place like always, deal with it. Recessions mean a temporary rise in unemployment, always. Recessions happen periodically if you haven’t noticed.
Just wait until the markets react to Blackrock becoming the new FTX political money machine. Ooooohhh boy this is gonna be good! (Flounder voice)
“I do not feel sorry for the newly unemployed. They will get 99 weeks of unemployment checks.”
And there are still job openings all over the place. Some companies have too many people and are laying employees off. Others are hiring.
It’s called Capitalism but some people are actually asking for a centrally planned economy, which is really not a good idea.
It needs to be government and government workers who are downsized.
Government made this problem.
Indeed Happy New Year has been canceled until 2024 due to rate-hike worries and copious other problems.
Do not change your name from blackdog to blackrock. :)
I am happy as a lark with the rate hikes! Finally, my annuities are now paying more than the life insurance deduction of 1/4%.
In my 62 years in the United States, I have never seen so many Help Wanted signs in stores, gas stations & restaurants.
The Unemployed are unemployed by choice. In my town in NE Florida, every store, every restaurant, every gas station has Help Wanted sign posted prominently.
The small people are glad you like others misery.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.