US Jobs Report in Focus as Global Markets Seek Clarity

Global markets are experiencing a mixed outlook, with expectations for interest rate cuts by central banks growing while concerns about a tech stock sell-off persist. The upcoming US employment report, scheduled for next week, is now at the forefront of investors’ minds. While recent economic data suggests the US economy remains resilient, boosting hopes for a ‘soft landing,’ the downward trend in tech stocks is putting pressure on market pricing. Personal consumption expenditures in the US rose by 0.5% month-on-month in July, aligning with expectations. However, the tech sector sell-off continues to be a factor, with Nvidia’s stock dropping 7.7% despite record revenue. Market analysts are keenly watching the upcoming employment data, as it could influence expectations for future interest rate cuts.