The benchmark S&P 500 slumped by 0.7%, retreating from another record close on Thursday, while the Dow Jones Industrial Average slipped 0.2% lower. The tech-heavy Nasdaq Composite tanked by 1.2%, with heavy-hitting chipmaker Nvidia retreating by over 5% to retreat from a record-breaking rally.

With the February jobs report beating expectations, the latest employment data has boosted investors’ confidence that the Federal Reserve will introduce interest rate cuts later in the year, with the latest expectations being that the central bank will implement its first cut after its June meeting.

The post Stocks Falter Following Stronger-Than-Expected Jobs Report appeared first on theprimarymarket.com.

Nonfarm payrolls are expected to rise by 200,000 in February, while the unemployment rate is expected to hold steady at 3.7%, as was the case in January. In January, 353,000 jobs were added to the economy, meaning that a slowdown in hiring over February is expected. The average weekly hours worked for February is expected to be 34.3, compared to 34.1 in January. On a monthly basis, average hourly earnings are expected to rise by 0.2%, compared to a 0.6% increase in January. On a yearly basis, average hourly earnings are expected to rise by 4.3%, compared to a 4.5% rise in January.

Oxford Economics lead U.S. economist Nancy Vanden Houten believes that this jobs report would encourage the Federal Reserve to introduce interest rate cuts as early as May if it meets analysts’ expectations. “After an overheated surge in January, we expect a cooler, but still solid, pace of job growth in February and expect the spike in earnings growth to be reversed. A report that is stronger than we forecasted would raise the risk that the first Federal Reserve rate cut comes later than May, which is currently our baseline,” she wrote in a note to clients.

The post Jobs Report Expected to Show Hiring Slowdown appeared first on theprimarymarket.com.

During Powell’s address to the U.S. House and Senate on Wednesday, the Fed president is expected to provide an update on the state of the U.S. economy as well as the status of the central bank’s fight against inflation. Investors will also be on the lookout for clues as to when the Fed will consider implementing interest rate cuts.

February’s jobs report is expected to show that 190,000 nonfarm payrolls were added for the month, with unemployment expected to remain at a level of 3.7%, constant with January’s figure.

The post Investors Brace for February Jobs Report and Fed Chair Testimony appeared first on theprimarymarket.com.

In Europe, the benchmark Stoxx Europe 600 slipped 0.6%, while in New York, futures on the S&P 500 and Dow Jones Industrial Average declined by 0.2%. Contracts listed on the Nasdaq 100 fell by 0.2%. The MSCI Asia Pacific Index remained relatively unchanged.

Friday’s nonfarm payrolls are expected to show strong figures, thus suggesting that markets have been overconfident when it comes to expecting Fed rate cuts, with investors broadly betting on a rate cut as soon as March. “In the lead-up to the upcoming US job numbers, sentiment is back to wait-and-see,” Jun Rong Yeap, a strategist at IG Asia observed, suggesting that investors have learned of their excessive optimism. “We may have to see a substantial weakening of the US labor market to justify market pricing of a rate cut as early as March.”

The post Futures Slip Ahead of Key U.S. Jobs Data appeared first on theprimarymarket.com.

The Dow Jones Industrial Average gained 0.3% on Friday, while the Nasdaq Composite advanced nearly 0.5%. The S&P 500 ended the session 0.4% higher, reaching its highest level this year.

In November, 199,000 new jobs were added to the US economy, with the number growing after auto worker and Hollywood actor strikes came to an end. This data largely boosted investor optimism that the Federal Reserve will introduce interest rate cuts next year. In commodities, oil prices recovered slightly but remain on course to their longest run of losses in five years. West Texas Intermediate and Brent crude futures both gained 2%.

The post Stocks Hit Six-Week Winning Streak Following Strong Jobs Report appeared first on theprimarymarket.com.

“We expect the November employment report to show an acceleration in job growth, driven by the return of striking UAW and SAG-AFTRA workers,” Oxford Economics lead US economist Nancy Vanden Houten explained in reference to Hollywood workers who have been on strike. “Looking through strike-related noise, we expect the jobs report to be consistent with softening labor market conditions, allowing the Fed to forego more rate increases.

As data continues to point to a loosening labor market and cooling inflation, investors are increasingly betting that the Federal Reserve will cut interest rates early next year. Fed Chair Jerome Powell acknowledged in a speech on December 1 that the economy is slowing toward a “more sustainable level”.

The post November Jobs Report Expected to Show Resurging Job Growth appeared first on theprimarymarket.com.

The US Bureau of Labor Statistics found that the US labor market slowed in October, with job openings declining from 8.73 million to 9.35 million in September. This is also a decline from last October’s 10.47 million openings. The number of hires remained relatively stagnant at 5.9 million, as did total separations, at 5.6 million. 3.6 million workers quit their jobs while 1.6 million were subject to layoffs and discharges.

Further job market insights will be delivered to observers later in the week, with ADP private payroll numbers to be released on Wednesday while the monthly jobs report will be available on Friday, which the Federal Reserve is expected to scour in preparation for its next policy meeting.

The post Stocks Continue to Stammer Amid Jobs Data appeared first on theprimarymarket.com.

Consensus estimates compiled by Bloomberg indicate that the jobs report is expected to show that nonfarm payrolls rose by 170,000 in September, with the unemployment rate falling slightly to 3.7%. Both of these figures fall shy of August’s when 187,000 payrolls were added and unemployment rose by 3.8%.

“We expect the September employment report to show a slight deceleration in job growth last month, but it will not be enough to take the risk of a rate hike at the November 1 Federal Open Market Committee meeting off the table,” Oxford Economics lead U.S. economist Nancy Vanden Houten observed. This statement was made in regard to the Federal Reserve’s fiscal policy going forward.

The post September Jobs Report Expected to Show Slowing Growth appeared first on theprimarymarket.com.

After the latest ADP private-sector hiring data proved to be weaker than expected, all signs seem to be indicating that the U.S. job market is continuing to cool down. This is lifting pressure off markets, providing the Federal Reserve with room to reconsider further interest rate hikes.

In other news, oil prices continued to fall, with West Texas Intermediate futures slipping 1.7% to move below $84 per barrel while Brent crude futures declined by 1.6% to less than $84 per barrel as well. This comes amid concerns that demand will continue to fall amid a global economic slowdown.

The post Futures Remain Steady Ahead of Jobs Data appeared first on theprimarymarket.com.

Jefferies US economist Thomas Simons explained, “Given the tightness in the labor market, more supply is welcome, and sometimes it takes a little while for new entrants to find a fit.” Contrary to the upward trajectory in unemployment, the civilian labor force grew in numbers, adding 736,000 participants from the previous month. The labor force participation rate for August was 62.8%; its highest level since February 2020, when it reached 63.3%.

This latest jobs report has indicated a more balanced labor market, which is a good sign for the Federal Reserve as its September meeting approaches. This cooldown could be a factor in the argument to convince the central bank to hold off on further interest rate hikes.

The post Unemployment Hits 18-Month High in Latest Jobs Report appeared first on theprimarymarket.com.

The benchmark S&P 500 slumped by 0.7%, retreating from another record close on Thursday, while the Dow Jones Industrial Average slipped 0.2% lower. The tech-heavy Nasdaq Composite tanked by 1.2%, with heavy-hitting chipmaker Nvidia retreating by over 5% to retreat from a record-breaking rally.

With the February jobs report beating expectations, the latest employment data has boosted investors’ confidence that the Federal Reserve will introduce interest rate cuts later in the year, with the latest expectations being that the central bank will implement its first cut after its June meeting.

The post Stocks Falter Following Stronger-Than-Expected Jobs Report appeared first on theprimarymarket.com.

Nonfarm payrolls are expected to rise by 200,000 in February, while the unemployment rate is expected to hold steady at 3.7%, as was the case in January. In January, 353,000 jobs were added to the economy, meaning that a slowdown in hiring over February is expected. The average weekly hours worked for February is expected to be 34.3, compared to 34.1 in January. On a monthly basis, average hourly earnings are expected to rise by 0.2%, compared to a 0.6% increase in January. On a yearly basis, average hourly earnings are expected to rise by 4.3%, compared to a 4.5% rise in January.

Oxford Economics lead U.S. economist Nancy Vanden Houten believes that this jobs report would encourage the Federal Reserve to introduce interest rate cuts as early as May if it meets analysts’ expectations. “After an overheated surge in January, we expect a cooler, but still solid, pace of job growth in February and expect the spike in earnings growth to be reversed. A report that is stronger than we forecasted would raise the risk that the first Federal Reserve rate cut comes later than May, which is currently our baseline,” she wrote in a note to clients.

The post Jobs Report Expected to Show Hiring Slowdown appeared first on theprimarymarket.com.

During Powell’s address to the U.S. House and Senate on Wednesday, the Fed president is expected to provide an update on the state of the U.S. economy as well as the status of the central bank’s fight against inflation. Investors will also be on the lookout for clues as to when the Fed will consider implementing interest rate cuts.

February’s jobs report is expected to show that 190,000 nonfarm payrolls were added for the month, with unemployment expected to remain at a level of 3.7%, constant with January’s figure.

The post Investors Brace for February Jobs Report and Fed Chair Testimony appeared first on theprimarymarket.com.

In Europe, the benchmark Stoxx Europe 600 slipped 0.6%, while in New York, futures on the S&P 500 and Dow Jones Industrial Average declined by 0.2%. Contracts listed on the Nasdaq 100 fell by 0.2%. The MSCI Asia Pacific Index remained relatively unchanged.

Friday’s nonfarm payrolls are expected to show strong figures, thus suggesting that markets have been overconfident when it comes to expecting Fed rate cuts, with investors broadly betting on a rate cut as soon as March. “In the lead-up to the upcoming US job numbers, sentiment is back to wait-and-see,” Jun Rong Yeap, a strategist at IG Asia observed, suggesting that investors have learned of their excessive optimism. “We may have to see a substantial weakening of the US labor market to justify market pricing of a rate cut as early as March.”

The post Futures Slip Ahead of Key U.S. Jobs Data appeared first on theprimarymarket.com.

The Dow Jones Industrial Average gained 0.3% on Friday, while the Nasdaq Composite advanced nearly 0.5%. The S&P 500 ended the session 0.4% higher, reaching its highest level this year.

In November, 199,000 new jobs were added to the US economy, with the number growing after auto worker and Hollywood actor strikes came to an end. This data largely boosted investor optimism that the Federal Reserve will introduce interest rate cuts next year. In commodities, oil prices recovered slightly but remain on course to their longest run of losses in five years. West Texas Intermediate and Brent crude futures both gained 2%.

The post Stocks Hit Six-Week Winning Streak Following Strong Jobs Report appeared first on theprimarymarket.com.

“We expect the November employment report to show an acceleration in job growth, driven by the return of striking UAW and SAG-AFTRA workers,” Oxford Economics lead US economist Nancy Vanden Houten explained in reference to Hollywood workers who have been on strike. “Looking through strike-related noise, we expect the jobs report to be consistent with softening labor market conditions, allowing the Fed to forego more rate increases.

As data continues to point to a loosening labor market and cooling inflation, investors are increasingly betting that the Federal Reserve will cut interest rates early next year. Fed Chair Jerome Powell acknowledged in a speech on December 1 that the economy is slowing toward a “more sustainable level”.

The post November Jobs Report Expected to Show Resurging Job Growth appeared first on theprimarymarket.com.

The US Bureau of Labor Statistics found that the US labor market slowed in October, with job openings declining from 8.73 million to 9.35 million in September. This is also a decline from last October’s 10.47 million openings. The number of hires remained relatively stagnant at 5.9 million, as did total separations, at 5.6 million. 3.6 million workers quit their jobs while 1.6 million were subject to layoffs and discharges.

Further job market insights will be delivered to observers later in the week, with ADP private payroll numbers to be released on Wednesday while the monthly jobs report will be available on Friday, which the Federal Reserve is expected to scour in preparation for its next policy meeting.

The post Stocks Continue to Stammer Amid Jobs Data appeared first on theprimarymarket.com.

Consensus estimates compiled by Bloomberg indicate that the jobs report is expected to show that nonfarm payrolls rose by 170,000 in September, with the unemployment rate falling slightly to 3.7%. Both of these figures fall shy of August’s when 187,000 payrolls were added and unemployment rose by 3.8%.

“We expect the September employment report to show a slight deceleration in job growth last month, but it will not be enough to take the risk of a rate hike at the November 1 Federal Open Market Committee meeting off the table,” Oxford Economics lead U.S. economist Nancy Vanden Houten observed. This statement was made in regard to the Federal Reserve’s fiscal policy going forward.

The post September Jobs Report Expected to Show Slowing Growth appeared first on theprimarymarket.com.

After the latest ADP private-sector hiring data proved to be weaker than expected, all signs seem to be indicating that the U.S. job market is continuing to cool down. This is lifting pressure off markets, providing the Federal Reserve with room to reconsider further interest rate hikes.

In other news, oil prices continued to fall, with West Texas Intermediate futures slipping 1.7% to move below $84 per barrel while Brent crude futures declined by 1.6% to less than $84 per barrel as well. This comes amid concerns that demand will continue to fall amid a global economic slowdown.

The post Futures Remain Steady Ahead of Jobs Data appeared first on theprimarymarket.com.

Jefferies US economist Thomas Simons explained, “Given the tightness in the labor market, more supply is welcome, and sometimes it takes a little while for new entrants to find a fit.” Contrary to the upward trajectory in unemployment, the civilian labor force grew in numbers, adding 736,000 participants from the previous month. The labor force participation rate for August was 62.8%; its highest level since February 2020, when it reached 63.3%.

This latest jobs report has indicated a more balanced labor market, which is a good sign for the Federal Reserve as its September meeting approaches. This cooldown could be a factor in the argument to convince the central bank to hold off on further interest rate hikes.

The post Unemployment Hits 18-Month High in Latest Jobs Report appeared first on theprimarymarket.com.