U.S. non-farm payrolls came in at 245,000 jobs for September 2024 The unemployment rate falls to 4.1%. America is not in a recession, nor facing any deflation. The Fed's jumbo 0.50% rate cut was unnecessary, energy and food prices are not coming down. The conflict between Iran and Israel could lead to an oil shock, despite Biden stockpiling oil.

U.S. employment is at record lows, as Friday's Non-farm payrolls proves that there is no recession and no deflation in the American economy.  So, why did the Fed cut rates at a massive 0.50%?  It could be read, objectively, as a political motivated decision to keep the market pumped for the U.S. elections on the precursor of keeping actual conspiracy theorist Donald Trump out of the Oval office for the 2nd time, so that he doesn't get his wish for economic turmoil and a stock market crash under Joe Biden/Kamala Harris.  But, this may happen anyway.  With Biden's administration stockpiling enough oil to (in hope) wait out an Iran/Israel conflict, and the Federal Reserve intent on cutting rates at their next meeting on the 6th/7th November, despite inflation stuck in the U.S.,  would be wishful thinking to say the least.  The uncertainty of war and and ensured chaos in the energy markets, should not be taken for granted.  They seemingly are.  As de-escalation in the region seems unlikely with Israel given the green light.  It is prudent, not to assume all is well.

The NASDAQ is just shy of its all time high of 20538, bid at 20400.  Pleaser refer to the above chart.