A strong jobs market could equal a weak stock market if current trends hold up.
Friday's nonfarm payrolls report will provide a major test for Wall Street, which has been on edge all week about a surprisingly resilient labor picture.
Expectations for a Fed rate hike, low now, could change with a hot payrolls number, which is what some on Wall Street are expecting.Friday's nonfarm payrolls report will provide a major test for Wall Street, which has been on edge all week about a surprisingly resilient labor picture. The fear is that if the tight labor market holds up, the Federal Reserve will hold interest rates high and jeopardize the U.S. economy at a critical time.
Stocks tumbled Tuesday following the report, called the Job Openings and Labor Turnover Survey, triggering concerns that another slide could be in store if Friday's count also is strong. Treasury yields also hit a 16-year high, possibly indicating fear of higher rates from the Fed."You get a slew of strong data here, you can very easily put a November rate hike back on the table for the" Federal Open Market Committee, UBS chief economist Jonathan Pingle said Thursday on CNBC.
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