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Dollar bounces on job gains, then pares ahead of CPI
The August payrolls report showed 162,000 jobs added and lifted CME FedWatch odds of a September rate hike to 58.4%, according to markets.
- Wall Street indexes dipped on Friday as the Labor Department reported 162,000 new jobs, nearly three times the consensus forecast, raising Federal Reserve rate hike expectations later this month.
- Financial markets now price in a 58.4% likelihood of a 25-basis-point rate hike at the Fed's September meeting, up from 49.4% on Thursday, as the economy continues running hot.
- Lululemon Athletica tumbled 17.4% after cutting profit and revenue forecasts, while credit reporting firms declined after Federal Housing Finance Agency Director Bill Pulte announced Fannie Mae and Freddie Mac will use VantageScore.
- All three major U.S. indexes closed lower in a broad selloff ahead of the three-day Labor Day weekend, with markets scheduled to remain closed on Monday.
- Next week's Labor Department consumer and producer price index releases will provide clarity on inflation, Ryan Detrick, chief market strategist at Carson Group, said, as the data proves pivotal to the Fed's decision.
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Wall Street ends lower as solid jobs data fuels hawkish Fed bets | Honolulu Star-Advertiser
NEW YORK >> Wall Street dipped today as a robust jobs report raised the probability that the U.S. Federal Reserve will increase its key interest rate at this month’s monetary policy meeting.
·Honolulu, United States
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Total News Sources19
Leaning Left2Leaning Right5Center4Last UpdatedBias Distribution46% Right
Bias Distribution
- 46% of the sources lean Right
46% Right
L 18%
C 36%
R 46%
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