{"id":10338,"date":"2024-02-02T08:51:52","date_gmt":"2024-02-02T08:51:52","guid":{"rendered":"https:\/\/www.vtmarkets.net\/?p=10338"},"modified":"2025-02-22T08:04:15","modified_gmt":"2025-02-22T08:04:15","slug":"forex-market-analysis-nfp-report-and-tech-giants-earnings-influence-2-jan-2024","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.net\/fr\/analysis\/forex-market-analysis-nfp-report-and-tech-giants-earnings-influence-2-jan-2024\/","title":{"rendered":"Forex Market Analysis: NFP Report and Tech Giants’ Earnings Influence 2 Jan 2024"},"content":{"rendered":"\n
Daily Forex Analysis: 2 Jan 2024<\/h1>\n\n\n\n
CURRENCIES:<\/u><\/strong><\/p>\n\n\n\n
Key Points:<\/strong><\/p>\n\n\n\n
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U.S. nonfarm payrolls report is the focal point for Friday.<\/li>\n\n\n\n
Weak jobs report expected to be positive for gold prices; strong data could negatively affect gold.<\/li>\n\n\n\n
The article analyzes the short-term technical outlook for gold.<\/li>\n\n\n\n
Federal Reserve maintains policy settings but abandons tightening bias.<\/li>\n\n\n\n
Rate cut possibility in March remains uncertain, depending on incoming data.<\/li>\n\n\n\n
January U.S. employment report of high significance with expectations of 180,000 added workers.<\/li>\n\n\n\n
Lackluster nonfarm payrolls could bring back March rate cut talks, benefiting gold.<\/li>\n\n\n\n
Strong NFP figures could reduce dovish sentiments on Fed’s policy, leading to potential pressure on gold in February.<\/li>\n<\/ul>\n\n\n\n
STOCK MARKET:<\/u><\/strong><\/p>\n\n\n\n
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Market Recovery:<\/strong> Stocks experienced a rebound on Thursday, recovering from the previous day’s significant losses, in anticipation of major tech companies’ earnings reports.<\/li>\n\n\n\n
S&P 500, Dow Jones, and Nasdaq Performance:<\/strong> The S&P 500 increased by 1.2%, the Dow Jones Industrial Average by nearly 1%, and the Nasdaq Composite led the gains with a 1.3% rise.<\/li>\n\n\n\n
Federal Reserve’s Influence:<\/strong> The Federal Reserve’s potential rate changes were a central focus, with Fed Chair Jerome Powell indicating a less likely rate cut in the March meeting, against earlier investor expectations.<\/li>\n\n\n\n
Tech Giants’ Earnings Spotlight:<\/strong> Post-market earnings announcements from Apple, Amazon, and Meta (part of the “Magnificent Seven”) significantly influenced market sentiments.<\/li>\n\n\n\n
Meta’s Surge:<\/strong> Meta’s shares surged over 12% after it exceeded earnings expectations, announced a $50 billion share buyback, and declared a $0.50 cash dividend.<\/li>\n\n\n\n
Amazon’s Positive Outcome:<\/strong> Amazon’s stock also saw gains, rising more than 4% after reporting better-than-expected fourth-quarter earnings and providing an optimistic future outlook.<\/li>\n\n\n\n
Apple’s Mixed Results:<\/strong> Apple’s revenue beat expectations, but concerns about slowing sales growth in China affected its stock performance ahead of the earnings call.<\/li>\n\n\n\n
Contrast with Earlier Tech Earnings:<\/strong> This positive shift contrasted with disappointing earnings from Microsoft and Alphabet earlier in the week, which had negatively impacted their stock prices.<\/li>\n\n\n\n
Upcoming Economic Data:<\/strong> Investors are also looking forward to January’s job market data, with the nonfarm payrolls report due on Friday.<\/li>\n<\/ul>\n\n\n\n