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U.S. Economy continues to be very strong despite job cuts in 2022 and 2023

Despite numerous job cuts from high-profile Tech companies such as $Meta Platforms (META.US)$ , Twitter, $Amazon (AMZN.US)$ (*1), $Microsoft (MSFT.US)$ , $Snap Inc (SNAP.US)$ , $HP Inc (HPQ.US)$ and $Cisco (CSCO.US)$ in 2022, and even some companies such as $McDonald's (MCD.US)$ (*2) plans for job cuts in 2023, the U.S. economy continue to be strong, with nonfarm payrolls rose by 223K, beating the estimates of 200K (*3).

Besides the nonfarm payrolls beating estimates, the private payrolls also beat its estimates too. Also, the U.S. stock market stage its first big rally in 2023 with DOW up 2.13%, S&P 500 up 2.28% and Tech index NASDAQ up 2.56% on 6 Jan 2023 (*4).
U.S. Economy continues to be very strong despite job cuts in 2022 and 2023
U.S. Economy continues to be very strong despite job cuts in 2022 and 2023

So, do you think that it is a good time to buy some Tech stocks in the year of the Rabbit?
We have come to the end of today's topic. Remember to show your support by follow, like, share and comment on this post and as always, don't forget to DYODD (Do your own due diligence) when making any kind of investment.


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