A weaker jobs report helped the stock market. Because the data was softer, the chance of a Fed rate hike in September went down. This made Wall Street happy.
All three major indexes closed higher:
- S&P 500: 7,757.64 (+3.58%)
- Nasdaq Composite: 26,690.62 (+5.19%)
- Dow Jones: 54,036.93 (+2.98%)
While the jobs numbers mattered, inflation is the other big piece of the Fed puzzle. The July CPI report arrives on Wednesday, and another CPI and payroll report follow before the September FOMC meeting.
If inflation comes in hotter than expected, worries about a rate hike could return, helping the U.S. dollar. A softer CPI number would keep pressure on the dollar and could push gold even higher.
The Gold Rally
Gold jumped on Wednesday and finished the week up 7.39%. The price is now above the 38.2% Fibonacci level on the weekly chart. The next resistance is near the 40‑week moving average.
When CPI is released, a gentle reading could give gold another lift. Traders may want to watch the SPDR Gold Shares (GLD) chart for clues.
GLD gapped up on Wednesday and again on Friday. The RSI is climbing toward 70, and the PPO just turned positive.
Technically, GLD still has room to run. It has just broken out of a tight Bollinger Band squeeze.
Oil Still Watching the Strait
West Texas Intermediate (WTI) stays below $80 a barrel. Uncertainty about shipping through the Strait of Hormuz keeps the market uneasy.
WTI slipped below its 200‑day moving average on Wednesday, then bounced back. It has been quiet since, but any new news could move the price again.
If you want a simple way to track a bigger oil move, the United States Oil Fund (USO) can act as a proxy for crude prices.
What’s Coming Next?
Next week brings a lot of macro data. Inflation will likely dominate headlines. Several big companies, such as CoreWeave, Super Micro Computer, Cisco, and Applied Materials, will also release earnings.
Market volatility stays low, with the VIX at 14.90. Unless a major surprise hits, we may see calm trading until the CPI report on Wednesday.
In a news‑driven market, prices can swing quickly. Stay alert, watch the big trends, and be ready to adjust your positions when new data arrives.
Disclaimer: This content is for educational purposes only and does not constitute financial advice. Always evaluate your own situation or consult a professional before acting.
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