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US Stocks Today: US Stocks Subdued After Jobs Report Fuels Rate-Hike Bets
Traders raised the odds of a Federal Reserve rate hike to 65% after U.S. payrolls rose 162,000 in August, Reuters said.
- North America's main stock indexes opened mixed on Friday after a stronger-than-expected jobs reading prompted investors to amplify bets on a Federal Reserve interest-rate hike this month.
- A Labor Department report showed the U.S. economy added 162,000 jobs in August, significantly surpassing economists' estimates of 56,000, while the unemployment rate remained at 4.1 per cent.
- Traders raised the implied probability of a September rate hike to 65 per cent, up from 55 per cent before the report, despite earlier comments from Fed Governor Christopher Waller suggesting steady rates if inflation abates.
- Shares of Lululemon Athletica fell 17.5 per cent after cutting revenue forecasts, while Adobe dropped 6.4 per cent as CEO Shantanu Narayen announced plans to hand over the reins.
- Investors await CPI and PPI data from the Labor Department next week, while analysts note that September has historically been the weakest month for stocks.
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Intel Climbs 4% as Chip Stocks Shrug Off Rising Rate Hike Odds; NVIDIA and AMD Move Higher
Semiconductor stocks are outrunning the broader tech tape Friday morning even as a hot August payrolls report drove the odds of a September Federal Reserve rate hike sharply higher. The iShares Semiconductor ETF (NASDAQ:SOXX) is up 3% to $517.91, leading the market. The Invesco QQQ Trust (NASDAQ:QQQ) is up 0.02% to $718.70, representing a tiny […]
·Lakewood, United States
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Given the good labour market figures, the Nasdaq had to make profits. At the same time, the Iran war continues to drive oil and gas prices up.
·Düsseldorf, Germany
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Coverage Details
Total News Sources27
Leaning Left1Leaning Right4Center8Last UpdatedBias Distribution61% Center
Bias Distribution
- 61% of the sources are Center
61% Center
C 61%
R 31%
Factuality
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