NEW YORK - The stock market faces its first major test of the year in the coming week, with investors counting on the U.S. jobs report to show a stable but not overheated economy that underpins expectations for equity gains in 2025.
"Any kind of data that suggests things are weakening a little bit more than expected I think could create volatility," Saglimbene said. The three-month average gain of 138,000"suggests that hiring continues to slow gradually," Capital Economics analysts said in a note. Investors are also wary of the jobs report revealing an overly strong economy, with a revival of inflation seen as one of the key risks to markets early in the year.
Despite a strong 2024, stocks were weak in December, with the S&P 500 falling 2.5%. December had only five days with more stocks in the index gaining as opposed to declining, the lowest share of such relatively positive days for any month going back to 1990, according to Bespoke Investment Group.
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