The February nonfarm survey showed that US employers added 151,000 jobs last month, and the unemployment rate rose to 41%. The consensus forecast of economists was for 160,000 and 4%.
(Source: US Department of Labor)
In the non-farm preview article by the Finance News Agency, it was mentioned that for tonight's market, not-so-bad non-farm data could provide a boost to the US stock market to stop falling. After all, considering that the "Department of Government Efficiency" cutting spending everywhere, the non-farm data in the coming months will only be more chaotic.
Under the impact of Trump's policies, the S&P 50 index has retreated by 6.6% from its historical high on February 19; while the Nasdaq index has retreated by more than 10% mid-February.
Friday is also the last day before the Fed's March interest rate meeting blackout period, with a number of monetary policymakers, including Fed Chairman Powell, set to speak. They will be another variable that will determine market sentiment tonight. Among them, Powell will deliver a speech on the economic outlook at the annual policy forum of the University of Chicago Booth School of Business at 1:30 a.m. Beijing time on Saturday.
There is also another event tonight that has the attention of both the general public and "crypto people" - US President Donald Trump will host a cryptocurrency summit at the White House. In an executive order signed on, he ordered the establishment of a strategic Bitcoin reserve and another digital asset reserve, both of which will be regulated by the US Department of the Treasury and will be used to store Bitcoin and other cryptocurrencies.
It is reported that the CEO of Robinhood, Vlad Tenev, and the head of Strategy, Michael Saylor, will. The attendees are generally focused on the implementation details of the US official strategic reserve and whether the Trump administration will issue policies that are beneficial to the cryptocurrency industry
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