Friday Markets Start Strong Against Positive Job Numbers, Oil Prices Still Rising
Express News | Major Indexes Are Trading Higher Following a Strong September Unemployment Rate and Nonfarm Payrolls Data
Non-farm payrolls surged by 0.254 million people, with the unemployment rate unexpectedly falling. Has the US economy successfully achieved a "soft landing"?
USA companies exceeded all economists' expectations in recruiting numbers in September, with the unemployment rate falling unexpectedly to 4.1%; non-farm employment rose by 0.254 million people in September, the highest in six months.
S&P 500 Nears Record Highs On Hot Jobs Data: Dollar, Treasury Yields Surge As Aggressive Interest Rate Cut Hopes Fade
Express News | US Sep. Non-Farm Payrolls +254000 Vs +140000 Forecast, Prior +159000; US Sep. Unemployment Rate 4.1% Vs 4.2% Forecast, Prior 4.2%
"Wall Street's most accurate strategist" boldly predicts: if non-farm payrolls meet expectations, risk assets will soar.
The Bank of America strategy team stated that the non-farm data supporting the "soft landing" of the US economy will keep US treasury yields fluctuating within a certain range, but a surge in data and the resulting spike in US bond yields will drive market risk aversion towards assets.
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