SVET Friday Markets Update:

03 Dec 2022 by rate3

Friday, December 02 markets remained unperturbed (with NASDAQ gaining ~60 points and BTC adding about the same) despite BLS Payroll report showing an unexpected increase (by 263,000) of employed peoples in the non-farm sector. Gains were registered in leisure, hospitality and government. Employment declined in retail trade, transportation and warehousing. Overall jobs situation is, meanwhile, unchanged with unemployment rate staying at 3.7 percent.

Ineffectiveness of FED policies reveals itself in numbers. For example, 32 thousand merchandise stores jobs were gone in a month. That is where most vulnerable groups of population usually seek their livelihood. On the other hand, in financial and information sectors, which Powell holds culpable for the inflation rampage, added 14K and 19K jobs respectively.

Looks like after Powell's inspirational speech two days ago traders intend to shrug off all minor negative news for a while :)