Stocks Rise, Bonds Decline After Weak Jobs Number: Markets Wrap
- Gasoline prices fall for the first time in almost two weeks
- Gauge of industrial metals hits three-year high; copper gains
UBS' Yu Sees U.S. Unemployment Rate Dropping to 4%
This article is for subscribers only.
U.S. stocks rose and Treasuries declined as reports showing a gain in consumer sentiment and an increase in manufacturing offset a mediocre August employment report.
“The report was marginally disappointing for those looking for higher inflation, but not too far from our expectations,” Andrew Hollenhorst, chief U.S. economist at Citigroup Global Markets, wrote in a report. “Markets, and the Fed, will remain in “wait and see” mode -– primarily focused on prospects for inflation and potentially stimulative government policy."