NFP strong but lower wages see stocks soar – Crypto News – Crypto News
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NFP strong but lower wages see stocks soar – Crypto News

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Here is what you need to know on Friday, January 6:

Nonfarm Payrolls (NFP) gave the market the number they wanted and this time we again have the fed pivot theory being cited. At some point, this will prove accurate just as a broken clock tells the correct time eventually. But signs of a US recession seem to be getting pushed further away now with a strong job market. Unemployment falls to 3.5% and wage growth finally shows some signs of abating.

The US Dollar is lower as Federal Reserve pivot hopes rise and the front end of the yield curve falls. dollar index at 105.06 now. Gold price has also moved higher from lower yields to $1,846 now and Oil price is also up to $75.11.

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european markets are higher with FTSE, DAX and Eurostoxx all +0.5%.

United States futures are higher, Dow and S&P up 1% and Nasdaq up 0.7%.

Wall Street top news

euro zone CPI lower than expected.

US NFP is higher than expected but wage growth slows.

Bed Bath and Beyond (BBBY) falls on bankruptcy fears.

Charge Point (CHPT) partners with Mercedes for the network.

Reuters headlines

BioNTech SE: The pharmaceutical company has signed a deal with the UK government to enroll up to 10,000 patients in clinical trials by the end of 2030 for personalized cancer therapies, the German drugmaker said

Lithium Americas Corp.: A US judge said on Thursday she will rule “in the next couple of months” on whether former President Donald Trump erred in 2021 when he approved the company’s Thacker Pass lithium mining project in northern Nevada.

Pfizer Inc: The drugmaker is exploring options for some early-stage treatments for rare diseases and cancer in a bid to focus on “high-impact” medicines and vaccines, the company said on Thursday.

Shell plcEarnings from the oil The giant’s liquefied natural gas (LNG) trading operations are likely to have been significantly higher in the fourth quarter of last year despite a sharp output drop owing to plant outages, it said.

Southwest Airlines Co: The airline said it expects to report a net loss in the fourth quarter after a technological meltdown due to a winter storm forced the US carrier to cancel thousands of flights around Christmas and New Year’s Eve.

Stellantis NV: The Chrysler parent Chief Executive Officer Carlos Tavares said on Thursday that more auto plant closures will happen if higher prices for electric vehicles (EV) cause vehicle markets to shrink from pre-pandemic levels.

Tesla Inc.: The carmaker cut electric car prices in China for the second time in less than three months, stoking expectations for a wider price war for battery-powered vehicles in the world’s largest auto market where demand has weakened.

World Wrestling Entertainment Inc.: Vince McMahon, the former chief of the entertainment firm, plans to return to the company that he transformed from a regional player in a highly fragmented industry of the 1980s to a global giant, he said in a statement on Thursday.

Economic releases

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