Welcome to Extreme Investor Network, where we provide you with expert insights and analysis on the stock market, trading, and all things Wall Street. Today, let’s dive into the recent US JOLTs Job Openings Report and what it means for investors.
The US labor market is currently in the spotlight, and all eyes are on Fed Chair Powell as he is scheduled to speak. Many are wondering whether Powell will react to the US Personal Income and Outlays Report or wait for the US Jobs Report, which is set to be released on Friday.
In the near term, the trends for the DAX will be influenced by Euro area inflation numbers, the upcoming French election, and US labor market data. A softer-than-expected Euro area inflation and a higher US unemployment rate could signal a potential breakout for the DAX. Investors should also keep a close eye on updates from France as the Sunday run-off approaches.
Looking at the technical indicators for the DAX, the index is currently sitting above the 50-day and 200-day EMAs, indicating bullish price signals. A return to 18,500 could potentially lead to a run at the 18,750 handle, with a break above that level putting 19,000 into view. However, a drop below the 50-day EMA could see the bears aiming for 18,000, and a break through that level would bring the 17,615 support level into play.
Overall, rising expectations of ECB and Fed rate cuts are positive factors for the DAX. However, potential Euro area and US hard landings, as well as political uncertainties in France, could dampen buyer appetite for riskier assets.
Stay tuned to Extreme Investor Network for more updates and analysis on the stock market and trading trends. Happy investing!