The Market Brief
Hey team. The economy is performing better than anticipated, supported by a resilient labor market after the all-important jobs data came in much stronger than economists expected.
Let’s discuss what’s next for the markets!
Impact Snapshot
US Hiring Tops All Estimates, While Jobless Rate Falls to 4.1%
Macro Viewpoint
U.S. stock index futures extended gains on Friday after a key labor report revealed a larger-than-expected increase in payrolls and a smaller-than-expected rise in unemployment, easing concerns about a sharp slowdown in the jobs market.
U.S. job growth last month exceeded all estimates with the biggest increase since March, while the unemployment rate unexpectedly fell, easing concerns about a significant downturn in the labor market.
Traders add to bets that Fed will stick to 25 bps rate cuts in both Nov and Dec after strong jobs data.