(Ticker) – Wall Street moves higher after the FED chairman, Jerome Powellsaid that “it makes sense to moderate the pace of our rate hikes as we approach the level of containment which will be sufficient to reduce inflation” and that “the time to moderate the pace of rate hikes could already arrive at the meeting of December“.
The words of the number one of the US Central Bank came later conflicting economic datawhich could be read as “useful” to support a less aggressive stance by the Federal Reserve. Indeed, hiring at US companies fell in November at its slowest pace in nearly two years and wage increases moderated, suggesting that employers may have begun to view an increasingly bleak economic outlook.
“Inflection points can be difficult to capture in the labor market, but our data suggests that Federal Reserve tightening is having an impact on job creation and wage earnings,” said Nela Richardson, chief economist at ADP, the organization that released the data on new hires.
Meanwhile, i US mortgage rates fell last week to the lowest level in more than two months, while the economic growth of the United States in the third quarter was stronger than initially estimated.
On the front of quarterly, Crowdstrike released below-expected guidance, with the CEO speaking of an increase in macroeconomic headwinds that lengthened sales cycles. work day on the other hand, it recorded a quarterly performance higher than expected despite the greater uncertainty.
i continue layoffs of tech companies. Door Dashthe American company that operates an online food ordering and delivery platform, has announced it is cutting about 1,250 jobs in a bid to cut costs in the face of a global economic slowdown.
After Powell’s words, the Dow Jones it stands at 33,913 points (+0.18%); on the same line, salt theS&P-500, which continues the day at 3,983 points (+0.65%). Even better the NASDAQ 100 (+1.21%).