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Lantu Auto: Sales volume in June was 10,053 vehicles, up 83% year-on-year.July 1, Federal Reserve Chairman Powell will speak at the European Central Bank Central Bank Forum on Tuesday. Meanwhile, the White House is stepping up plans to replace Powell, and divisions within the Fed are becoming increasingly difficult to ignore. U.S. Treasury Secretary Bessant said on Monday that someone may succeed Powell at the end of his term. He also said the government may arrange for someone to fill a key Federal Reserve Board seat that will be vacant in January next year, and this person may then take over as chairman. Shortly after Bessant made the above remarks, Trump escalated his attacks on Powell and the Federal Reserve, accusing them of keeping interest rates too high, causing the United States to lose "trillions of dollars" and that the Federal Reserve "should be ashamed of itself." At the same time, divisions within the Federal Reserve are widening. Two officials appointed by Trump, Waller and Bowman, called for a rate cut as early as July. This split is having an adverse impact on the fragile economy. The June non-farm report released on Thursday may complicate the outlook.Xiaomi Auto: By June 2025, the delivery volume of Xiaomi Auto exceeded 25,000 units.The Malaysian ringgit strengthened to 4.179 per dollar, its highest level since Oct. 2 last year.Japans Minister of Agriculture, Forestry and Fisheries: We will continue to cooperate with various departments to maximize Japans national interests in trade negotiations with the United States.

Edging Higher as Investors Digest Jobs Data

Jimmy Khan

Jul 11, 2022 15:22

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The tech-weighted index is on track to have its greatest performance since early November if it advances for a fifth consecutive session.


As investors processed Friday's U.S. Non-Farm Payrolls data, the September E-mini NASDAQ-100 Index futures were slightly higher late in the day.


Investors are also preparing for the US consumer inflation data due out next week. The tech-weighted index is poised to end up for a fifth consecutive session, which would be its best showing since early November, despite Friday's poor trading.


September E-mini NASDAQ-100 Index futures are now trading at 12163.25, up 24.75 or +0.20 percent, as of 19:00 GMT. The S&P 500 Trust ETF (GLD) is down $0.28 or 0.07 percent, trading at $388.71.


According to a Reuters survey of experts, the Labor Department's eagerly anticipated report revealed Non-Farm Payrolls grew by 372,000 jobs in June, greater than the gain of 268,000 expected. The survey also revealed that average hourly wages increased by 0.3 percent after increasing by 0.4 percent in May, while the unemployment rate held steady at 3.6 percent, close to pre-pandemic lows.


The price movement indicates that investors have factored in the widely anticipated 75-basis point rate rise by the Fed on July 27. Gains are, however, being constrained by usually anxious traders who are fixated on analyzing every new piece of data as it is revealed. The US Consumer Inflation (CPI) data is due out on Wednesday. Due to the increase in fuel prices in June, a good start is anticipated.


Short-Term Outlook The September E-min NASDAQ-100 Index's movement into Friday's close will probably depend on how traders respond to the short-term 50 percent mark at 12021.00.

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