In a mixed market response to labor data, stocks declined while bond prices rose. Investors are scrutinizing labor market indicators for insight into the Federal Reserve’s next moves. Ahead of Friday’s anticipated US jobs report, data revealed that US companies added the fewest jobs since early 2021, yet jobless claims were lower than expected. The August jobs report is projected to show an increase of around 165,000 payrolls, up from July’s 114,000, but the three-month average payroll growth is slowing to just over 150,000, the smallest since 2021.
Matt Maley of Miller Tabak noted that market participants might remain cautious, awaiting more definitive employment data. “Given the impact last month’s employment report had on the markets, we wouldn’t blame investors at all for sitting on their hands for another day,” he said. Reflecting the cautious sentiment, S&P 500 futures fell by 0.2%, and Treasury 10-year yields dipped by two basis points to 3.74%.
These trends highlight a marketplace on alert, with traders and investors closely monitoring every economic indicator for clues about the Federal Reserve’s policy direction. This summary was generated with assistance from Bloomberg Automation.
For more detailed reports and analysis, visit bloomberg.com.
Original Story https://www.livemint.com/news/stocks-fall-and-bonds-rise-after-jobs-readings-markets-wrap-11725570584610.html
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