Traders are currently anticipating the May job report. Although job growth is expected to have slowed in the past month, the labor market remains strong. On Thursday, the major averages rose for the first time in three days after a choppy start. The Dow rose 1.3%. The S&P 500 surged 1.8%, and the tech-heavy Nasdaq Composite gained 2.7%.
However, fear of a possible recession hitting the economy is becoming more and more apparent. Dawn Fitzpatrick, the custodian of billionaire George Soros’s wealth, stated that the sky-high inflation and rate hikes make recession “inevitable.”
