Nasdaq ticks up as downward payrolls revisions boost rate-cut hopes
- The S&P 500 and the Nasdaq edged up on Wednesday as a sharp downward revision in US jobs data for the year ended March 2024 indicated a slowdown in the labor market, propping up hopes the Federal Reserve would cut interest rates next month.
"A deteriorating labor market will allow the Fed to highlight both sides of the dual mandate and investors should expect the Fed to prepare markets for a cut at the September meeting," said Jeffrey Roach, chief economist at LPL Financial.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Asian markets extend gains as US inflation data boost rate hopesLast week's sell-off came on the back of a big miss on US jobs creation, which stoked recession fear
Baca lebih lajut »
Shares flirt with highs on rate cut bets, gold at recordShares flirt with highs on rate cut bets, gold at record
Baca lebih lajut »
Morning Bid: Oil slips and equities ease in pre-Fed driftAfter a benign June inflation report, investors bet the Federal Reserve will cut rate for September
Baca lebih lajut »
US 30-year mortgage rate drops on weak jobs data, Fed rate-cut signalsThe decline gives potential homebuyers some long-hoped-for relief in recent years
Baca lebih lajut »
SBP reduces interest rate to 19.5% amid decline in the inflationSBP Reduces Interest Rate to 19.5% amid declining inflation, aiming to boost economic activity. The decision reflects improved eco...
Baca lebih lajut »
KP assembly introduces bill to reduce tobacco tax by 100%KP Assembly tobacco tax reduction bill introduced, proposing a 100% cut to boost the local tobacco industry and economic growth in...
Baca lebih lajut »