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Boeing strike impacts jobs report ahead of presidential election and Fed meeting
Boeing's ongoing machinist strike, which began on September 13, 2024, is expected to significantly impact the upcoming U.S. jobs report, with economists predicting a reduction of at least 50,000 jobs due to the strike and recent hurricanes. The company plans to cut 10% of its global workforce, or 17,000 jobs, as new CEO Kelly Ortberg aims to streamline operations. The Biden administration is involved in negotiations, urging both sides to reach a resolution.
investors brace for volatility amid improving risk sentiment and geopolitical tensions
Investors' risk appetite is improving, with the S&P 500 reaching new highs and the VIX index falling below 20. However, volatility may rise due to uncertainties surrounding the Federal Reserve's interest rate policy and ongoing geopolitical tensions in the Middle East, particularly between Israel and Iran. As the US presidential election approaches, market fluctuations are expected, prompting recommendations for investors to manage potential volatility through structured strategies and exposure to gold and oil as hedges.
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