Economics
Everything Is Working the ‘Way It Should’: Wall Street Reacts on Jobs
- ‘Bullish for risk as the report was not too hot’: Hatfield
- Gives ‘more ground to the Fed for 75 bps hike’: Ielpo
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Skittish stock markets got a reprieve Friday after the latest hiring data showed wage pressures easing as more Americans entered the workforce instead
Futures on the S&P 500 rose and Treasury yields fell after data showed the job participation rate jumped last month, which helped bring labor costs down -- a key step in helping the Federal Reserve’s efforts to reduce inflation. The fact that new jobs came in higher than expected also suggested to many investors that the Fed’s aggressive rate hikes aren’t yet doing serious economic damage.