editor 
FAP, May 1 (editor Ma Lan) investors in the US stock market are destined to fluctuate a lot on Wednesday, with ADP employment data, ISM manufacturing PMI, JOLTS job vacancies and subsequent Fed monetary policy decisions coming one after another, and today's performance is likely to affect the market for the rest of the week.
The Labor Department's employment cost index released on Tuesday showed strong wage growth in the country, confirmingAbugarciablackmax3reelThe soundness of the US labor market. This is also confirmed in the newly released ADP private sector employment growth index for April, which shows that the number of private sector jobs added in April in the United States reached 19.Abugarciablackmax3reel.20, 000, far exceeding the market's expectations of 179000.
But the Labor Department's Job Vacancy and Labor turnover Survey (JOLTs) report released on Wednesday showed that the number of job vacancies in the US in March was 8.488 million, below market expectations of 8.68 million and down from 8.813 million last month. And that figure may be a sign of weakness in the labour market.
In addition, the Chicago Purchasing managers' Index (PMI) released on Tuesday was well below expectations at 44.9, at 37.9. Wall Street was surprised by the consumer confidence index surveyed by the World Federation of large Enterprises, which fell to 97.0 from 103.1 last month.
The authoritative index ISM manufacturing PMI in April was "unsurprisingly" inferior to the market consensus. The index recorded 49.2, compared with market expectations of 50.0 and a previous value of 50.3. The manufacturing price index rose to 60.9 from 55.8 last month, and the market expected it to be 55.5, further highlighting price pressures.
Just waiting for FED.
After these data are released, the Fed will also follow the release of its interest rate policy decisions. Markets currently expect no rate cuts at this meeting, but it remains to be seen what the Fed will do with its bond holdings, which will represent the Fed's attitude to the idea of ending quantitative tightening as soon as possible.
As things stand, there is no doubt about the rise in the dollar index, which has remained above the 21-day and 200-day moving averages. This objectively indicates that the index is bullish in both short-term and long-term trends.
At the same time, the market also expressed its view on the future outlook. Us stocks opened slightly lower today, with the broader index down 0.15% together with the NASDAQ composite index. The Dow Jones industrial average rose 46 points, or 0.1%.
Wolfe Research's Chris Senyek expects the next Fed statement and Fed Chairman Colin Powell's press conference tone to reflect the committee's hawkish shift. In the medium term, US economic growth and employment prospects are likely to have a greater impact on Fed decisions and overall stock market returns. "
Vanguard's Joe Davis pointed out that last quarter's inflation data were unexpectedly hot, making it difficult to sustain the so-called "one-off" phenomenon of US inflation, which suggests that "no landing" is now more likely than the long-awaited "soft landing".