Home Personal Finance Stock Market Today: Stocks Stabilize After Jobs Report Jolt

Stock Market Today: Stocks Stabilize After Jobs Report Jolt

by TodayDigitNews@gmail.com
0 comment

of November job report Labor Department data suggests the Federal Reserve still has a long way to go in its efforts to slow the economy. Specifically, the U.S. added her 263,000 jobs in November, well above expectations, while the unemployment rate remained stable at her 3.7% and average hourly earnings were down year-on-year. increased by 5.1%. The stock initially plummeted on the news, but by the end of the day it wasn’t as bad as it started.

“Investors have focused on persistent inflation and are concerned that the Federal Reserve’s aggressive interest rate hikes and balance sheet shrinkage will cause market turmoil. recessionSo today’s news of a 0.6% increase in hourly wages in the private sector easily exceeded expectations of a 0.3% increase, a painful fall amid an impressive recovery late in the fourth quarter. interception. Interactive Brokers.”The wage increase is his third straight month, just two days away. Fed Chairman Jerome Powell “It suggests that a weakening labor market is needed to curb decades of high inflation.”

You may also like

Leave a Comment

About Us

We are a group of friends who love to write about the things that matter to us. We started this blog as a way to share our knowledge and experience with the world.

Latest Articles

Copyright ©️ All rights reserved. | Today Digital News