Phyrex
Phyrex|Nov 06, 2026 18:12
I slept all day and was in meetings all night, so I completely forgot it was the non-farm payrolls release date. I just mentioned it in my assignment: the non-farm payrolls data was pretty good, really good. The unemployment rate dropped from 4.2% to 4.1%, and non-farm payrolls significantly exceeded both previous and expected figures, adding a single digit. Wage gains also exceeded expectations. Overall, it still represents the strong resilience of the US economy. This is a good report, but as I often say, good labor market data can be bad data, and bad data can become good data because it's conducive to interest rate cuts. So while this data shows the strong resilience of the US economy, it also shows that the Federal Reserve has more confidence to maintain high interest rates for a longer period. In other words, the Fed is more willing to raise interest rates. However, the market doesn't seem particularly worried, perhaps because the Democrats' attitude towards Iran will change significantly after they control Congress. They should be able to end the war with Iran as soon as possible, then the good non-farm payrolls data will truly be good data. However, the Democrats won't have full control of Congress until next year, so we still need to watch Iran's attitude. I bought Bitcoin yesterday at the bottom, and it's currently showing a paper loss. I placed a sell order at $79,000 today, but it seems unlikely I'll be able to sell on Monday. However, I still believe the market will react positively after Trump's defeat. Even in the AI industry, the Democrats won't strongly oppose it, and bitcoin:native, which is highly correlated with tech stocks, shouldn't perform too badly. A @Gate account for more market insights.
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