Tuesday's Markets Update (August 29, 2023)

04 Sep 2023 by rate3

On Tuesday, Job openings fell and the Nasdaq rose sharply, boosted by expectations that the Fed will pause interest rate hikes in September. Tesla and Nvidia were among the top gainers. BTC surged on Grayscale’s win against the SEC.

Details

Job openings (JOLTs) in the US fell to a 22-month low in July 2023, as the labor market cooled after months of Fed tightening. The decline was widespread, with openings down in most major sectors and regions. However, there were some pockets of strength, such as in information and transportation.