๐ Weekly Market Round-Up: Key Events Recap
๐ Equity Markets:
๐ป The S&P 500 and Nasdaq Composite fell by 1.0% and 1.6% respectively, while the Dow Jones Industrial Average rose slightly by 0.3%.
๐ก The tech sector experienced heightened volatility due to competition in AI technology.
๐ Economic Indicators:
๐ฅ U.S. job creation slowed, with non-farm payrolls increasing by 143,000 (vs. 170,000 expected).
๐ The unemployment rate dipped to 4.0%.
๐ธ Average hourly earnings climbed by 0.5%, reflecting ongoing wage growth.
๐ฆ Central Bank Actions:
๐ฐ The Federal Reserve kept rates steady at 4.25%โ4.50% amid inflation concerns.
๐ฌ๐ง The Bank of England lowered its rate from 4.75% to 4.5%, marking its third cut in six months as economic worries persist.
๐ช Commodity Markets:
๐ฐ Gold reached new highs, trading above $2,800 per ounce, as investors sought safe-haven assets.
๐ช Cryptocurrency Developments:
๐ Bitcoin (BTC) hovered around $97,300, marking a 1.7% decline over the last 24 hours.
๐ Altcoins like Cardano (ADA) and Dogecoin (DOGE) fell by 4% amid anticipation of U.S. payroll data.
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