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Stocks Rise Ahead of Key US Jobs Data
Investors anticipate August's US jobs report to confirm labor market softness, supporting nearly 100% probability of Federal Reserve rate cuts this month, market data shows.
- Stocks climbed as investors awaited the release of the US nonfarm payrolls report expected this morning, with forecasts indicating a gain of 75,000 positions for August.
- This comes after recent labor market data indicated slowing growth and an unemployment rate projected to tick up to 4.3%.
- Broadcom shares surged more than 10% in premarket trading following stronger-than-expected earnings driven by a significant increase in AI-related revenue, while the dollar weakened to its lowest level this week and gold remained close to an all-time peak.
- Fed officials and market traders anticipate this payroll report will influence an expected quarter-point interest rate cut this month, with traders now pricing a near-100% probability of easing at September’s meeting.
- This suggests the labor report could shape the Federal Reserve's decision on monetary policy while markets remain cautious amid tariff uncertainties.
Insights by Ground AI
16 Articles
16 Articles
The latest statistics show an almost halted US labour market in August, with rising unemployment and job creation in the open economy.
Coverage Details
Total News Sources16
Leaning Left1Leaning Right3Center2Last UpdatedBias Distribution50% Right
Bias Distribution
- 50% of the sources lean Right
50% Right
L 17%
C 33%
R 50%
Factuality
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