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Jackson Hole speech creates stock madness on Friday

  

Significant events to watch:

-US (USD): U.S. Nonfarm Payrolls

-US (USD): U.S. Core PCE Price Index MoM

-USOIL: U.S. Crude Oil Inventories

U.S. Nonfarm Payrolls – Nonfarm Payrolls measures the change in the number of people employed during the previous month, excluding the farming industry. Job creation is the foremost indicator of consumer spending, which accounts for the majority of economic activity.

The previous data was 187k while the forecast was 200k. The report is due Friday, September 1, 18:00 GMT

U.S. Core PCE Price Index MoM – The Core Personal Consumption Expenditure (PCE) Price Index measures the changes in the price of goods and services purchased by consumers for the purpose of consumption, excluding food and energy. Prices are weighted according to total expenditure per item. It measures price change from the perspective of the consumer. It is a key way to measure changes in purchasing trends and inflation.

The previous actual data was same as forecasted i.e 0.2%. The report is due Thursday, August 31, 18:00 GMT.

U.S. Crude Oil Inventories – The Energy Information Administration’s (EIA) Crude Oil Inventories measures the weekly change in the number of barrels of commercial crude oil held by US firms. The level of inventories influences the price of petroleum products, which can have an impact on inflation.

The previous actual data was -6.135M while the forecast was -2.850M.

The report is due Wednesday, August 30, 20:00 GMT

Risers and Fallers

-Nasdaq  (+0.94%)

-Netflix Inc. (+2.24%)

-Nvidia Corp. (-2.43%)

-Crude oil (+1.27%)

Nasdaq – The Nasdaq increased 0.94% on Friday, closing at 13,590.65. The Fed held the annual Jackson Hole speech on Friday morning. The Fed warns of more rate hikes to come, sending the stock market on a volatile run.

Netflix (NASDAQ: NFLX) – Netflix stock increased 2.24% on Friday.  The stock made a daily high and low of $419.25 and $407.56, respectively.

Nvidia Corp. (NASDAQ: NVDA  – Nvidia’s stock declined 2.43% on Friday, closing at $460.18 per share.

Crude Oil – Crude oil increased 1.27% on Friday. The commodity made a daily high and low of $80.45 and $78.14, respectively. Oil is trading at $80.05 per barrel.


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