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Jul 2, 2024 7:17 AM - Parth Sanghvi
Image credit: Maxim Hopman
U.S. stock index futures opened higher on Monday, July 1st, 2024. This follows a light pre-holiday trading session on Friday. Investors are now turning their attention towards key economic data releases this week, with the focus being on the upcoming jobs report.
Jobs Data in Focus: Clues for the Fed
The upcoming release of the non-farm payroll data on Friday, July 5th, is the main event for investors this week. This report provides a crucial indicator of the health of the U.S. labor market and can influence the Federal Reserve's monetary policy decisions.
Other Data Points to Consider
While the jobs report is the main focus, other data releases this week will also be watched by investors:
Investors Taking a Cautious Approach
The pre-holiday trading session on Monday indicates a cautious approach from investors. They are likely waiting for the upcoming data releases before making significant moves in the stock market.
Overall, the focus has shifted towards the jobs data this week. The strength of the labor market will be a key determinant of the Fed's monetary policy path, which can significantly impact stock prices.
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Disclaimer: I am not a financial advisor and this is not financial advice. Please consult with a qualified financial professional before making any investment decisions.
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