Ahead of Market: 10 things that will decide D-Street action on Monday
«The sharp increase in US payroll data led to expectations of a prolonged high-interest rate environment, resulting in a spike in US yields and increased volatility in global equities. Market participants are awaiting key data points such as domestic and US inflation numbers for further insights into the sustainability of the market trend. Given the elevated market valuation, the profit booking is visible at the upper band of the rally,” he added.
That said, here’s a look at what some key indicators are suggesting for Monday’s action:Wall Street Watch Wall Street stocks dipped Friday following data that showed slower hiring in the United States but which was seen as keeping the Federal Reserve on track to raise interest rates. The world's biggest economy added 209,000 jobs last month, fewer than expected, but the unemployment rate edged down to 3.6 percent, remaining close to historic lows. The Dow Jones Industrial Average finished down 0.6 percent at 33,734.88.
The broad-based S&P 500 dipped 0.3 percent to 4,398.95, while the tech-rich Nasdaq Composite Index slipped 0.1 percent to 13,660.72.European shares European shares edged lower on Friday, following sharp losses in the previous session, after U.S. data that showed a still strong labor market, while investors await a key U.S. jobs report due later in the day for more clues on interest rate outlook.
The pan-European STOXX 600 index fell 0.4% by 0710 GMT, set for its worst week since mid-March, led by declines in utilities shares, which slid 1.2%. UK's FTSE 100 index also fell 0.6%.Tech View: Long bear candle A long bear candle was formed on the daily chart with a long upper shadow. Technically this pattern indicates the rejection of bulls at the new highs.
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