Market overview 2023-02-06

The U.S. stock market is at the mercy of contradictory sentiments. On the one hand, strong labor market data spurred participants' expectations for higher forecasts of the raising the Fed's interest rate ceiling, while on the other hand the same data signaled the current economic strength, which offset recessionary expectations. All of these contradictions were reflected in Monday's trading, pushing the major stock indices down within 1 percentage point of average trading volume. Participants opted not to make any sudden moves and the market declined under its own weight, given its aggressive growth since the beginning of the year. The Technology and Communications sectors - recent growth leaders - declined more noticeably than others.