This week has been a turbulent one for the stock market, with all three major indices experiencing their worst performance since March 10. The S&P 500, Nasdaq Composite, and Dow Jones Industrial Average all closed lower for the fourth consecutive day, and the Dow Jones slipped into the red for 2023. The renewed fears of contagion risk from the embattled regional bank sector have driven the selloff and depressed investors’ sentiment. In addition, the volatility of US Treasury bonds has increased, signaling fear in long-term US bonds, and investors are nervous about the Federal Reserve's future course following its 25 basis point interest rate hike on Wednesday. Our robots, in light of concerns about further market uncertainty, have largely shifted to a market-neutral state, with the ratio of long to short positions becoming roughly equal.
Today, we may witness high volatility in the market as the highly anticipated jobs report for April is scheduled to be released at 8:30 am. Investors will closely scrutinize the report not only for the number of jobs added in the previous month but also for the unemployment rate and hourly wage growth.
Based on a survey conducted by Dow Jones, economists predict that payrolls are likely to increase by 180,000 in April. The unemployment rate is also expected to rise slightly to 3.6%. Additionally, it is forecasted that average hourly wages will grow by 4.2% compared to the previous year.
Investors received a new list of corporate earnings reports, including Apple's report, after Thursday's trading session. The tech giant reported its high and low figures for the second financial quarter, which were boosted by iPhone sales. In after-hours trading, Apple's stock rose by more than 2%.
Moving higher for three straight days is viewed as a bullish sign. Keep an eye on this stock for future growth. Considering data from situations where AAPL advanced for three days, in of 337 cases, the price rose further within the following month. The odds of a continued upward trend are .
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
a manufacturer of mobile communication, media devices, personal computers, and portable digital music players
Industry ElectronicsAppliances