![]() That is, will a stronger economy with plenty of people working make up for delayed or dashed hopes for quick and significant cuts to interest rates? The question for the stock market will be whether the upside of such strength outweighs the downside. And the government said hiring was actually much stronger in December than it had earlier reported. The unemployment rate unexpectedly did not get worse. Average hourly earnings for workers rose more in January than forecast. After the jobs report, some traders shifted even further out the calendar to June, according to data from CME Group.īesides the overall hiring number, the jobs report included many signals showing much more strength than expected. Traders had already pushed out bets for the timing of the first Fed rate cut to May from March following Powell's warning earlier this week. The yield on the two-year Treasury, which moves more closely with expectations for the Fed, also rose sharply. The yield for the 10-year Treasury leaped immediately after the release of the jobs report and was up to 4.04% from 3.88% late Thursday. “The Fed threw some cold water on the idea of a March rate cut less than 48 hours ago, and today’s surprisingly strong jobs report won’t dry things off,” said Chris Larkin, managing director, trading and investing, at E-Trade from Morgan Stanley.” It’s definitely not the type of data the Fed had in mind when they said they wanted to see more evidence that inflationary pressures were under control.” ![]() Fed Chair Jerome Powell said earlier this week that it’s unlikely cuts will begin as soon as traders had been hoping. stock market has surged to record heights. Hopes for such cuts, which can relax the pressure on the economy and goose investment prices, have been a major reason the U.S. That in turn would mean a longer wait for the Federal Reserve to begin cutting interest rates. While the strength is a boon for workers and keeps the risk of a recession at bay, the worry is that it could keep upward pressure on inflation. employers hired many more workers last month than economists expected. ![]() Stocks were feeling pressure from higher yields in the bond market after a report showed U.S. ![]() The Russell 2000 index of smaller stocks slumped 0.8%. ![]() Eastern time.īut the Dow Jones Industrial Average, which has less of an emphasis on tech, was up by just 14 points, or less than 0.1% And more stocks were falling overall on Wall Street than rising. They also pushed the Nasdaq composite up 1.4%, as of 11:30 a.m. Photo of armed robber behind doors pointing gun Woman pointing gun at thief with hands in air at night in parking lot A man pointing a gun with an angry look on his face.NEW YORK (AP) - Big Tech stocks are once again carrying Wall Street toward record heights Friday, even as worries about the downside of a hot job market keep the overall market in check.īig gains for Meta Platforms and Amazon, which are two of the market’s most influential stocks, had the S&P 500 index 0.8% higher in midday trading and on track for another all-time high. Aggressive thief in black hoodie pointing gun at car window Handsome man pointing with gun against a street background Woman with a gun on gray background Businesswoman pointing with hand gun at male colleague, isolated on white A man in his dress coat holding on to a weapon pointing the gun at the camera. Assassin, man with black coat and gun Aggressive man threatening with a shotgun isolated on white background Robber pointing gun at woman covering face with hands Action portrait of serious and attractive hitman or special agent man holding gun pointing the weapon direct to the camera isolated on dark background in secret service Hollywood style movie Businessman Pointing Hand Gun Angry thief pointing gun at woman sitting in car at night Pointing gun and preparing for shooting isolated on white background Man's hand holding a pointing gun with a finger on the trigger Aggressive thief in black hoodie pointing gun at car window Tough Latino Cop Pointing Pistol at Camera A young man pointing a gun Young killer pointing a gun over white background. Selectively focused on the front of the gun. ![]()
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