U.S. stocks opened Thursday’s trading session slightly lower, although the market was not far from zero. European shares, on the other hand, were in small gains, although here too the price change was not very far from the sea level.
Wall Street reflected on slightly weaker US labor market data. On the one hand, this suggests an earlier rate cut for the US dollar. On the other hand, it suggests a weaker economy – a weaker labor market can bring with it more bad consumer sentiment, which will hurt corporate profits. That in the end it doesn’t happen that the long-awaited and constantly contemplated cut in interest rates (a whole series of such expected cut in interest has been largely based on the rise in stock prices) around the time when it finally happens, will be interpreted as a sign that the economy is moving inward recession ponds and corporate profit forecasts are too high.
As already mentioned, many market participants want to see the latest US inflation data (but that will only be next week) for more clarity on rate issues.
Today was a holiday at the Baltic market. During the month, shares of the region have risen by 1.7%. A decrease of 1.5% was recorded during the year.
