Three big things you need to know: First, Friday’s jobs report added to investors’ uncertainty regarding the labor market, but the data point that concerned us from last week was the spike in Tech layoffs in the Challenger report. Second, election uncertainty has persisted with policy getting greater attention from both sides. We run through our US equity market read throughs from Trump’s economic speech last week. Third, in our discussion of other updates from our high frequency indicators, we review what we’re watching in terms of potential near-term downside levels for the S&P 500, sentiment, and the Semis trade.
By Lori Calvasina
Published September 11, 2024 | 1 min read
Published September 11, 2024 | 1 min read
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Lori Calvasina
Managing Director & Global Head of Equity Strategy, RBC Capital Markets