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December US Nonfarm Payrolls Rise More Than Expected, Unemployment Rate Slows
Express News | After the release of the nonfarm payroll data, the three major stock index futures plummeted. Dow futures fell over 0.66%, S&P 500 futures dropped 0.7%, and Nasdaq 100 futures declined nearly 1%. The dollar index rose by 0.57% to 109.79.
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Express News | US Dec. Non-Farm Payrolls 256K Vs 160K Forecast, Prior 212K; US Dec. Unemployment Rate 4.1% Vs 4.2% Forecast, Prior 4.2%
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Wells Fargo Downgrades Ross Stores to Equal-Weight, Maintains Price Target to $165
Wall Street warns: If you don't want a big drop in U.S. stocks, tonight's non-farm payroll needs to be "just right."
Bank of America stated that only "Goldilocks" data can keep long-term interest rates below 5%, stabilize interest rate sensitivity, and prevent the Nasdaq's leadership from wavering. "Explosive" data could lead to a decline of about 4% in the S&P 500 Index to 5,666 points.