US EditionWall Street Holds Near Records on Hopes that the US Job Market Has Slowed by Just the Right Amount
Stocks rose as investors anticipate Federal Reserve may cut interest rates due to weaker U.S. job reports showing slowed hiring and increased unemployment claims, economists say.
- On Thursday, Wall Street drifted higher as investors awaited a U.S. jobs update coming Friday, with the S&P 500 rising 0.4%.
- The ADP National Employment Report showed just 54,000 jobs added in August, and economists now expect Friday's nonfarm payrolls to show about 75,000 new jobs, reflecting slower hiring.
- Following the jobs reports, Treasury yields softened as the 10-year Treasury yield fell to 4.17% from 4.22% and the 30-year yield eased to 4.87%, helping lift equities.
- As risk appetite returned, equity investors lifted cyclical and growth-sensitive sectors while safe-haven assets cooled, with gold slipping 0.2% to $3,550 and Bitcoin BTC/USD trading below $110,000.
- Markets now price in nearly certain cuts as the CME FedWatch Tool shows a nearly 100% chance of a 25-basis-point Federal Reserve cut this month and 90% odds for a second cut this year, despite inflation risks.
50 Articles
50 Articles
LA Daily News
Wall Street holds near records on hopes that the US job market has slowed by just the right amount
By STAN CHOE, Associated Press Business Writer NEW YORK (AP) — Wall Street is holding near its records Friday on hopes that the U.S. job market has slowed enough to convince the Federal Reserve to cut interest rates soon to help the economy, but not so much that it brings a recession. The S&P 500 added 0.1% to its all-time high set the day before. The Dow Jones Industrial Average was down 15 points, or less than 0.1%, as of 10:10 a.m. Eastern ti…
Asian stocks track Wall Street higher, bond yields ease before US payrolls
By Kevin Buckland TOKYO (Reuters) -Asian stocks tracked Wall Street’s rise to a record high and Treasury yields eased to four-month lows on Friday as traders cemented bets for the Federal Reserve to cut rates this month, even with crucial U.S. jobs data looming later in the day. The U.S. dollar eased slightly, giving up small gains from Thursday, when it was buoyed by soft labour market figures. Gold held steady after Thursday’s retreat from an …
Bradford Today
Wall Street rises with hopes for cuts to interest rates
NEW YORK (AP) — U.S. stocks rose as Wall Street made its final moves ahead of a highly anticipated report on the job market. The S&P climbed 0.8% Thursday. The Dow Jones Industrial Average gained 0.8%, and the Nasdaq composite rallied 1%.
The Detroit News
Wall Street rises to a record with hopes for cuts to interest rates
U.S. stocks rose to a record on Thursday as Wall Street made its final moves ahead of an update on the job market, one that could clear the way for the cuts to interest rates that investors love.
The Times Herald
Wall Street rises with hopes for coming cuts to interest rates
Wall Street is drifting higher as pressure from the bond market eases. Reports indicated weaker hiring among private employers and a potential increase in layoffs. Neither is flashing a recession, but a slowdown in the job market could push the Federal Reserve to cut its main interest rate in a couple weeks.
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