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10.03.202513:30 Forex Analysis & Reviews: US market: positive turn at week's end after losses

Exchange Rates 10.03.2025 analysis

S&P 500

Overview for March 10

US Market: Optimism at week's close

Major US indices on Friday: Dow +0.5%, NASDAQ +0.7%, S&P 500 +0.6%, S&P 500: 5,770, trading range: 5,650 - 6,200.

The stock market ended the week of decline with a gain.

The S&P 500 recorded a 0.6% rise, the Dow Jones Industrial Average increased by 0.5%, and the Nasdaq Composite surged by 0.7%.

The buying interest reflected a "buy on the dip" strategy after the sharp decline earlier in the week. Likely, some technical factors also triggered buying activity after the S&P 500 fell below its 200-day moving average (5,733) again.

Strength in the semiconductor sector provided significant help to the broader equity market. Broadcom (AVGO 194.96, +15.51, +8.6%) fueled buying in the sector after reporting strong results and forecasts.

The PHLX Semiconductor Index (SOX) gained 3.2%. The February jobs report released in the morning was not very favorable but did not deter buyers.

Non-farm payrolls growth was slightly below expectations (151,000 vs. consensus of 159,000), and the U6 unemployment rate increased sharply (to 8.0% from 7.5%) to a level not seen since late 2021. (The U6 unemployment rate measures the number of unemployed and those seeking work as a percentage of the total economically active population.)

Market participants also digested comments from Fed Chairman Jerome Powell during a Q&A session, where he expressed pleasant surprise at productivity improvements, leading to a higher potential output, and reiterated that there is no need to rush with adjustments to the Fed's policy.

In addition, President Trump stated that the retaliatory tariffs scheduled to take effect on April 2 might be introduced earlier.

Year-to-date:

Dow Jones Industrial Average: -2.4%S&P 500: -3.1%S&P Midcap 400: -3.5%Nasdaq Composite: -3.5%Russell 2000: -4.1%

Economic data review:

February Nonfarm Payrolls: 151K (consensus 159K); Previous: revised from 143K to 125KFebruary Nonfarm Private Payrolls: 140K (consensus 145K); Previous: revised from 111K to 80KFebruary Avg. Hourly Earnings: 0.3% (consensus 0.3%); Previous: revised from 0.5% to 0.4%February Unemployment Rate: 4.1% (consensus 4.0%); Previous: 4.0%February Average Workweek: 34.1 (consensus 34.2); Previous: 34.1.

The main takeaway from the report is that it was not better than just normal.This will not be enough to quell concerns about growth that have been reflected in other recent data releases.

Monday's macroeconomic calendar is bereft of any important news releases.

Energy: Brent crude: $69.90. Oil remains under pressure amid signs of a slowdown in the US economy.

Conclusion: US market growth is still possible. It is recommended to hold long positions from support levels.

*El análisis de mercado publicado aquí tiene la finalidad de incrementar su conocimiento, más no darle instrucciones para realizar una operación.

Jozef Kovach,
Analytical expert of InstaSpot
© 2007-2025
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