Market Watch Jan 6, 2023
The new year is here and there is no slowdown in events for 2023. While the markets remained relatively stable during the holiday season, There could be several market moving events early in the month.
The Federal Reserve released the minutes from their December meeting on Jan 4 and markets did not seem to like the outlook. A noted excerpt included: “No participants anticipated that it would be appropriate to begin reducing the federal funds rate target in 2023.”
ADP also released their private payroll report. Employment was over 50% above forecasted. Markets responded negatively, due to fear that the Fed will continue to have to take action to decrease demand for goods and services.
Key events to watch
Non Farm Employment 1/6
Unemployment Rate 1/6