US employment statistics are gaining even more attention as Chairman Powell puts more emphasis on employment. The number of non-farm payrolls hired in August, which is announced today, is expected to reach 1.35 million, which is expected to slow down from the previous July’s 1.763 million. On the other hand, the unemployment rate is expected to be 9.8%, which is expected to improve from the previous 10.2% in July. Employment statistics are considered to be lagging indicators, and it is likely that the effects of the second wave of the pandemic will be delayed.
Also, yesterday, there was a scene where NY Dow temporarily dropped to over $1,000. This is due to the rush of profit-taking sales of IT-related stocks. Is there a virtuous circle in the market where IT-related stocks that had been wary of high prices were sold and other delayed stocks were bought? Or will the decline in the main IT-related stocks worsen the mood of the market as a whole? Weekend closing is likely to affect next week’s market price.
After that, economic indicators released in overseas markets include US Employment Statistics (August), Canada Employment Statistics (August), and Canada Ivey Purchasing Business Confidence Index (August). Regarding lectures and events, lectures will be given by Mr. Bill Rois de Gaulle, Governor of the French Central Bank, Commissioner of the British Central Bank Saunders, and ECN Chief Economist Lane. It should be noted that next Monday, the United States and Canada will be Labor Day holidays (Labor Day), and this weekend will be three consecutive holidays.
Pay attention to the movement.