inThreadNews covers India today. Want it for your country? Tell us — enough requests and we'll add it.
/
Loading story
Bets on US Federal Reserve rate hike in October fall as job market cools
Finance · 2 updates
Bets on US Federal Reserve rate hike in October fall as job market cools
Weaker-than-expected jobs growth in the US pushed traders to reduce bets on another interest rate hike by the Federal Reserve this year.The US economy added 29,000 jobs last month, the Labor Department reported, well below economists’ estimate of 90,000. Payroll growth for August was also revised lower, while the unemployment rate edged up to 4.2% from 4.1%.For live updates on US Markets, click hereThe employment data prompted traders to scale back expectations for another Fed rate increase. Interest-rate futures were pricing in less than a 20% chance of a hike at the Fed’s October meeting, do
Nasdaq rises 1%, Dow, S&P close higher as weak jobs data tempers rate hike bets
U.S. stocks finished higher on Friday after a weaker-than-expected jobs report reduced expectations that the Federal Reserve will raise interest rates at its meeting later this month.The S&P 500 rose 0.76% to 7,724.38. The Nasdaq Composite gained 1.19% to 27,191.33, while the Dow Jones Industrial Average added 0.51% to 51,186.71.Nonfarm payrolls rose by 29,000 last month, the Labor Department reported, well below economists’ forecast of 90,000. Employment figures for the previous two months were also revised sharply lower.Following the report, traders priced in a 22.7% chance of a rate inc
No stories here — try another tab, category, or search.
Loading more stories…
Request a feature
What would make inThreadNews better for you? We read every request.