Thursday's Markets Update (August 31, 2023)

04 Sep 2023 by rate3

On Thursday, the Nasdaq rose slightly for the fifth consecutive day, as investors awaited the release of the US jobs report on Friday. The core PCE price index rose 0.2% in July, but job cuts surged by more than 200% from the previous month. Salesforce stocks rose, while the dollar fell. BTC had a day of a deep correction as traders rushed to take profits from a previous run.

Details

Core PCE inflation in the US rose 0.2% in July, matching market expectations. The annual rate of inflation rose to 4.2%, still above the Fed’s target of 2%.