Jobs Week continues with positive Personal Income and Spending data, along with lower than expected Jobless Claims

From Nasdaq: 2024-10-31 10:32:00

Jobs Week is in full swing, with the Employment Situation report looming. Pre-market futures are down, with the Dow -160 points, S&P 500 -30, and Nasdaq -120. Personal Income for September meets expectations at +0.3%, while Personal Spending jumps to +0.5%. PCE Index shows an increase month over month and year over year.

Weekly Jobless Claims decrease to 216K, lower than expected, while Continuing Jobless Claims also fall. Neither Jobless Claims nor PCE numbers indicate a dire U.S. economy. Q3 Earnings Season sees positive surprises from Bristol Myers-Squibb and International Paper, but Sirius XM misses earnings for the first time in seven quarters.

Zacks experts predict 5 stocks set to double in 2024, with past recommendations soaring over 100%. Most picks are under Wall Street radar, offering a ground-floor opportunity. Major companies like Apple, Amazon, Intel, Bristol Myers-Squibb, International Paper, and Sirius XM are highlighted in the earnings reports.



Read more at Nasdaq: Un-spooky Halloween: PCE, Jobless Claims Tame