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What’s Really Fueling Job Growth? 💼
Did you know that the U.S. government accounts for just 13% of the nation's workforce, while the private sector dominates with 87%?
Did you know that the U.S. government accounts for just 13% of the nation's workforce, while the private sector dominates with 87%?
Understanding where job growth comes from is key in today’s economy, especially for investors looking to separate facts from myths.
Here are today’s articles:
Misinformation About Job Growth: First, despite political narratives, most new jobs are not created by the government 🤔
The Market Still Expects A Rate Cut In November: Next, the market remains confident that a rate cut is on the horizon 📅
Nvidia Shares Are Rising On Thursday After Management Said Demand For Its Next Generation GPU Blackwell Is Strong: Finally, Nvidia’s stock continues to climb as their next-gen GPUs are booked out 🚀
Get ready for fresh insights that can help your investments in today’s evolving market. Let’s go!
Misinformation About Job Growth 🤔
Some who oppose the Biden administration have created a myth that all the job growth is coming from government jobs.
To be a good investor, it's critical to check your political feelings at the door and be a truth seeker.
New jobs are mostly being created by the private sector, not the government 👷
In the latest employment report, which was for September, there were 254,000 new jobs created—223,000 of those jobs are private sector jobs and 31,000 were government jobs.
That means 12.2% of the jobs created in September were government jobs.
That’s slightly below what should be expected.
Of all jobs in the United States, 13% are government jobs and 87% are private sector jobs.
While it's objectively true that government spending should be reduced and our budget deficit needs to shrink, government hiring is not making job growth artificially strong 👎
The Market Still Expects A Rate Cut In November 📅
Despite the higher than expected inflation number yesterday, the Fed Funds Futures market still assigns an 84% chance of a 25bp interest rate cut at the November 7 FOMC meeting.
The 10-year Government bond yields drifted higher to 4.08% but the 2-year yield is anchored at around 3.97%
This reflects the market’s belief that a rate cut is still the base-case scenario at the next Fed meeting 👍
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Nvidia Shares Are Rising On Thursday After Management Said Demand For Its Next Generation GPU Blackwell Is Strong 🚀
In a note published Thursday, Morgan Stanley analyst Joe Moore said his firm hosted Nvidia CEO Jensen Huang and other members of the company’s management team this week for a series of meetings with investors.
The analyst said the executives revealed Nvidia’s Blackwell GPU products are “booked out 12 months,” which means if a customer puts in an order today they won’t receive the product until late next year.
A string of recent gains has left Nvidia close to its record closing high—adjusted for stock splits—of around $135 💰
The focus continues to be on growth in its data-center revenue powered by investment in AI technology.
The future continues to look bright.
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