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Stock markets are down waiting for the stimulus in the US



Global markets retreat from highs on Friday morning on news from the US. The short-term momentum in profit-taking in the markets created a sudden surge in jobless claims. However, the negative should be more than covered by the $ 1.9 trillion aid package announced by Biden the day before. The number of initial applications soared to 965 thousand against 784 thousand a week earlier. The number of continuing claims rose to 199 thousand. Up to 5.271 million. This sharp deterioration in the labor market, stressed the importance of assistance packages from the government, can prevent the failure of incomes naseleniya.Ranee of the Parties shall consider preparing a support package as manna from heaven for the markets, suggesting a new wave of inflow retail investors after cashing checks from the government, as it was in the middle of last goda.Teper of the labor market indicators points to a more difficult situation than previously estimated. In our view, however, the surge of applications for benefits should be attributed to assistance from the government. Reducing the number of unemployed at the end of the year took place including the fact that the supposed end of the program co-payments from the government to the amount of standard posobiy.Paket help from Biden assume the extension of the program until September and an increase in co-payments from $ 300 to $ 400. In the summer, it was more profitable for some of the low-paid workers to receive benefits than to work. Now these “incentives” will be even more of what promises to accelerate the pace of wage growth in the US, spurring inflation in the coming mesyatsy.Napomnim that the monthly labor market report noted a general increase in payments in the economy, in spite of the decline in employment. Thus, in the coming weeks, the US labor market may expect signals of a drop in the number of employed. However, if at the same time the total income and expenses will not be reduced, it is likely these negative signals can be ignored. In this light, it is worth paying increased attention to today’s release of retail sales data, which can clarify how wary consumers were in the past month .______________ Alexander Kuptsikevich, Lead Analyst, FxPro

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