The S&P 500 and the Dow slipped on Friday after latest data signaled resilience in the labor market in the face of the Federal Reserve's aggressive monetary tightening.
slowed more than expected in June after surging in the previous month, labor market conditions remained tight, with the unemployment rate retreating from a seven-month high and strong wage gains continuing.
"Today's numbers confirm the job market is still strong... and this report gives the green light to the Fed to raise rates," said Peter Cardillo, chief market economist at Spartan Capital Securities. "As far as the markets are concerned, the key is the Fed threat, and as you can see, we're pulling back in futures."the Fed will raise its benchmark interest rate this month to a 5.25%-5.5% range, but were skeptical of further hikes beyond that.
Traders now see about a 34% chance of a further rate hike in November, down from nearly even odds before the report, according to CME's Fedwatch tool.Wall Street's main indexes ended sharply lower in a broad selloff, with the benchmark S&P 500 posting its biggest daily percentage drop in six weeks.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Dow Plunges 500 Points As Investors Brace For ‘Much More’ Aggressive Fed ActionAll but two American stocks valued at over $100 billion slid Thursday.
Baca lebih lajut »
Dow Plunges 500 Points As Investors Brace For ‘Much More’ Aggressive Fed ActionAll but two American stocks valued at over $100 billion slid Thursday.
Baca lebih lajut »
Fiat 600e unveiled as a retro-flavored, 500-inspired crossover - AutoblogUnveiled for the European market, the Fiat 600e is an electrified, 500X-sized crossover with a retro-flavored exterior design.
Baca lebih lajut »
Over 500 new U.S. citizens sworn in at Fourth of July Naturalization CeremonyOn Tuesday, July 4, more than 500 people coming from around 80 different countries were granted U.S. citizenship during Seattle's 38th Annual Naturalization Ceremony. FOX13
Baca lebih lajut »
These S&P 500 stocks are trading at a discount as the second half gets under wayThe S&P 500 surged more than 15% to start the year, marking its biggest first-half gain since 2019 — when it jumped more than 17%.
Baca lebih lajut »
Hospital Offers Free Healthcare To Anyone Who Beats 500-Milligram Morphine ChallengeLOUISVILLE, KY—Providing patients with the exciting, lucrative opportunity, Norton Hospital announced Wednesday that it would offer free healthcare to anyone who beats their 500-Milligram Morphine Challenge. “All you have to do is swallow the full bottle of opiates without dying, and all your medical bills will be…
Baca lebih lajut »