The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
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Sign InReflecting growing concerns that interest rates may remain elevated, US employment data showed hotter-than-expected growth, triggering a sharp spike in bond yields and the US dollar. According to reports, the Nasdaq fell 2% while gold and bitcoin declined as markets weighed the potential removal of Federal Reserve support due to the robust data. President Trump criticized the negative market reaction, stating that stocks should ideally rise on the back of a strong labor report.
This market retreat occurs as investors gauge inflation persistence, with prior data suggesting that a tight labor market could sustain price pressures. Looking at alternative assets, cryptocurrencies faced selling pressure similar to tech stocks, a trend often observed when real yields rise. Per market data, the current divergence between strong macro indicators and equity performance underscores the 'good news is bad news' regime currently dominating Wall Street sentiment.
Traders should watch GOLD levels at $2,325.50 and BTC at $68,420 (close June 5, 2026) for potential breaches of key support zones. According to the economic calendar, the upcoming Fed Powell Speech on May 31, 2026, followed by the ISM Manufacturing PMI on June 1, 2026, will serve as critical catalysts for determining the Fed's next move and its impact on risk assets.