There has been a collective increase in the stock market, despite the decrease of the largest dollar index

There has been a collective increase in the stock market, despite the decrease of the largest dollar index

The value of the dollar index dropped today because fewer jobs were added than expected, leading investors to lower their expectations of how the Federal Reserve will act for the rest of 2023.

The latest employment data was below expectations, with fewer than 200,000 jobs added instead of the anticipated 224,000. Unemployment stayed at 3.6%, but wages per hour rose more than expected. The markets were pleased that inflation remains calm & the Federal Reserve is likely to keep rates at 5.50% following Powell's statements & minutes from the Fed meeting.

The US Dollar Index dropped 0.90% to 101.935 against a basket of other currencies, while Futures Gold Contract prices rose 0.93% to 1933.3 dollars per ounce & the immediate gold contracts increased by 0.86% to 1927.34 dollars per ounce.

Treasury bond yields have decreased by 1.5% over the past two years to 4.931%. Meanwhile, the price of crude oil rose to $73.31 per barrel, representing a 2.2% increase, while Brent oil increased by 1.86% to reach $77.94 per barrel. American stock indices have also been on the rise today; the Nasdaq Bit Index is up 0.54%, while the Dow Jones & S&P 500 are both up 0.22% & 0.54%, respectively.

Rivian's shares in the American market rose to their highest value after Wade Bush increased his price target from $25 to $30, representing a 39% increase from Thursday's closing price.

Ali Baba, a Chinese company, has seen an 8.8% increase in its share of the US market. According to Reuters, the ANT group of Ali Baba may have to pay 984 million dollars as a penalty imposed by Chinese authorities. In order to capitalize on this development, Ali Baba has launched a tool based on artificial intelligence that can turn phrases into images.

The federal government is likely to introduce two new policies, causing the markets to adjust their expectations

Interest in the upcoming American Federalism meetings has seen a significant shift following the release of several important pieces of American data in recent days.

The markets have predicted two more increases in interest rates this year based on statements from American Federal members after the last meeting. They suggested that additional increases may be necessary.

The markets are currently pricing in a 94.2% chance of a new interest rate increase at the upcoming meeting at the end of this month, & only a 5.8% chance that rates will remain the same. This is according to the American Federal benefit tool on 'Interesting Saudi Arabia'.

Investors are expecting the Federal Reserve to raise interest rates at the next September meeting, with a 73% chance of doing so. They also expect the rates to be raised by 57.2% at the November meeting & have a 55.3% chance of raising them again in December, despite recent statements suggesting two new interest rate increases after July's decision to stabilize them.