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John Stolfus maintains an 8100 target for the S&P 500 and will not raise it until the market closes at or above that level.
There is a significant divergence between tech sector employment, which is at an all-time low relative to overall payrolls, and tech stocks, which are at an all-time high relative to the S&P 500.
Moody's downgraded the sovereign credit rating of the United States from AAA to AA1 in 2023 due to the rising debt burden and a lack of policy proposals to address it.
Moody's current sovereign credit rating for the United States is AA1 with a stable outlook.
Stablecoin issuers have become the third-largest buyers of US Treasury debt.
The three-month average change in US jobs was 48,000.
The US unemployment rate held steady at 4.3%.
The US underemployment rate increased from 8.0% to 8.2%.
Seven of the eleven S&P 500 sectors are experiencing double-digit earnings growth.
The healthcare sector is the only S&P 500 sector with negative earnings growth.
Since the market low on March 30th, the S&P 500 index has risen by 15.6%.
Since the market low on March 30th, the Technology sector has increased by 29% and the Communication Services sector has increased by 25.9%.