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The Russell 2000 has surged nearly 6% since Donald Trump's election but may consolidate around 2,440 points after a recent pullback. The index could test the 2,300-point level before potentially rising again, with small-cap stocks particularly sensitive to inflation data and interest rate changes. Trump's regulatory and tax comments will also significantly influence market sentiment.
US non-farm payrolls for September exceeded expectations, adding 254,000 jobs and lowering the unemployment rate to 4.1%. This strong labor data has led to a surge in Treasury yields and a stronger US dollar, while risk assets like the S&P 500 may benefit from the economic optimism. Gold prices remain resilient amid geopolitical tensions, suggesting potential for further gains.
IG
The Russell 2000 index is poised for potential gains, hinging on upcoming U.S. employment figures, with forecasts of 140,000 new jobs and a stable unemployment rate of 4.2%. A positive report could enhance the outlook for small-cap stocks, which are more sensitive to economic cycles. Technically, a buy opportunity is suggested at 2100 points, targeting 2300 and possibly 2400 points by year-end, contingent on favorable employment data.
IG
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