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According to the Iranian Students News Agency, nuclear talks between Iran and the United States will be held in Oman on Friday, with a format similar to previous rounds.February 4th - US businesses added fewer jobs in January than expected, indicating a continued slowdown in the labor market at the start of the year. ADP Research data released Wednesday showed that private sector employment increased by only 22,000 jobs in January, below market expectations, and the previous months figure was revised downwards. Due to the partial shutdown of the federal government, the official data from the US Bureau of Labor Statistics was delayed, making ADP data likely the most complete reference for the January labor market this week. Despite some signs of stabilization in recent months, the lower-than-expected increase in private sector employment suggests that the labor market continued to cool in January. ADP data showed that education and healthcare services led hiring growth, while professional/business services saw its largest job decline since June of last year.ADP report: Salary growth for employed workers remained largely unchanged in January, with a year-over-year increase of 4.5%. However, the year-over-year salary increase for those changing jobs slowed to 6.4% from 6.6%.ADP report: The total number of new jobs in December has been revised from 41,000 to 37,000.Financial website InvestingLive commented on the US January ADP employment data: The situation is quite severe, with widespread loss of various white-collar jobs, while net job growth is almost entirely concentrated in government-related fields.

S&P 500 Choppy Ahead of the FOMC Press Conference

Skylar Shaw

May 05, 2022 10:37

Technical Analysis of the S&P 500

The S&P 500 first attempted to advance during Wednesday's futures market trading session, and it seems that the 4200 level above will continue to act as a bit of barrier. If we can break through the 4200 mark, we'll most likely target the 4300 level. 


The 4300 level is a big, round number with psychological significance. That is a major barrier, and breaching over it would impact the market's general attitude, as it would continue to confirm the enormous hammer that we established throughout the trading session on Monday.


If we break below the bottom of the hammer from Monday's session, we'll most likely target the 4000 handle. Because of the headline noise, the 4000 level underneath it will get a lot of attention, but I believe we will begin to accelerate to the downside at that point. Whatever the case may be, I believe a lot of it boils down to what the Federal Reserve says, and maybe more significantly, how the market interprets it.


Because we will have just completed what is expected to be the largest event for the market this month, the market is likely to experience a strong and impulsive move at this moment. Regardless, there are clearly many fears out there, and unless Jerome Powell can soothe the market jitters, things might become nasty very quickly.

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