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Wall Street traded higher on Thursday, as investors weighed fresh jobs data for clues on the labor market’s strength. On a sector-by-sector basis, 10 of the 11 S&P segments finished trading in positive territory, led by Consumer Discretionary and Communication Services. At the other end of the spectrum, Utilities lagged the most on Thursday. On the more political side, President Donald Trump urged the Supreme Court to quickly accept and rule on an appeal aiming to overturn lower court rulings that deemed most of his tariffs illegal.
Markets awaited Friday’s jobs report because, according to analysts, if the job market gets bad enough, the Fed may be forced to cut rates more aggressively, regardless of inflation. Investors will be keeping an eye out for minute economic indications ahead of the anticipated rate cut announcement.
Some important economic reports due to be announced next week include Consumer Credit on Monday, Payrolls, and the EIA short-term energy outlook on Tuesday. Meanwhile, Wednesday will include reports on PPI, Core PPI, and Wholesale Inventories. Jobless Claims, CPI, and Core CPI will be released on Thursday, and reports on Inflation Expectations and Consumer Sentiment will be out on Friday.
Adobe (ADBE), Kroger (KR), Chewy (CHWY), Daktronics (DAKT), Vince (VNCE), Synopsys (SNPS), Rubrik (RBRK) and GameStop (GME) will report earnings next week. _____________________________________________________________________Earnings spotlight: Monday, September 8: Casey’s (CASY), Planet Labs (PL). See the full earnings calendar.
Earnings spotlight: Tuesday, September 9: Synopsys, Rubrik, GameStop. See the full earnings calendar.
Earnings spotlight: Wednesday, September 10: Chewy, Daktronics, Vince. See
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