That was an acceleration from August’s hiring pace of 159,000 and blew past economists’ forecasts. Brent crude futures fell 0.5% to $77.62 per barrel, while the US West Texas Intermediate crude futures declined 0.5% to $74.03 per barrel. Recent encouraging data on the economy have raised hopes that the job market will hold up after the Fed pressed the brakes on the economy through higher rates in order to stamp out high inflation.
Stocks trending in morning trading
The Japanese currency has bounced on speculation over the central bank’s plans for interest rates since Prime https://www.coindesk.com/markets/2024/09/18/fed-rate-cut-could-crash-crypto-markets-but-era-of-central-banks-is-over-arthur-hayes/ Minister Shigeru Ishiba took office last week. Lower interest rates tend to boost prices of shares and other asset, and both Ishiba and the central bank governor suggested no hikes were likely soon. Market expectations have swung to the extreme for the US Federal Reserve to do just a 25 bps cut in November, rather than 50 bps, following the US jobs data, Reuters reported.
Gift Nifty Today
On Friday, the Indian stock market indices ended nearly a percent lower, extending losses for the fifth straight session. Asian shares advanced Monday after a surprisingly strong U.S. jobs report raised optimism about the economy, sparking a rally on Wall Street. Stocks recouped their weekly losses, as the markets have shown some resilience in the face of a rough week of worrying headlines. The S&P 500 and Dow closed out weekly gains, both sitting within striking distance of their record highs. Treasury yields soared in the bond market after the U.S. government said employers added 254,000 more jobs to their payrolls last month than they cut.
Asian Markets
"On the face of this the Fed should be hiking rates with these sorts of figures, not cutting rates," Economist James Knightley said. Medicare plans to downgrade ratings on some of the Humana’s health insurance plans. It soared a bit more than 10% over the week on excitement about a flurry of recent announcements from Beijing to prop up the world’s second-largest economy.
The 3 biggest themes investors are watching for as earnings season kicks off
- If Iran’s oil installations are taken offline, oil prices could surge over $200 per barrel, SEB’s Bjarne Schieldrop said.
- Gold prices eased on higher US dollar and as bets firmed for a smaller US rate cut.
- Recent encouraging data on the economy have raised hopes that the job market will hold up after the Fed pressed the brakes on the economy through higher rates in order to stamp out high inflation.
- That’s not surprising given how hard the Fed pressed the brakes on the economy through higher rates in order to stamp out high inflation.
- The jobs data swung forecasts toward a smaller interest rate cut from the Federal Reserve next month.
- That’s a quarter of a percentage point higher than the bottom that he was earlier forecasting.
Gift Nifty was trading around 25,260 level, a premium of nearly 70 points from the Nifty futures’ previous close, indicating a positive start for the Indian stock market indices. “We expect markets to consolidate this week amid cautiousness due to fear of increasing tensions in West Asia. With the start of the earning season this week, stock-specific action will continue. Also, the focus will remain on interest-sensitive stock amid the RBI policy meeting next week. Although rate cut is not on the table, commentary will hold great importance,” said Siddhartha Khemka, Head – Research, Wealth Management, Motilal Oswal Financial Services Ltd. Japan’s Nikkei 225 index gained 1.8% to 39,332.74 after the yen sank against the U.S. dollar.
Oil India share price
A barrel of benchmark U.S. crude rose 0.9% to $74.38, up from roughly $68 at the start of the week. Before Friday’s jobs report, the general trend had been a slowdown in hiring by U.S. employers. That’s not surprising given how hard the Fed pressed the brakes on the economy through higher rates in order to stamp out high inflation. Leading the way were banks, airlines, cruise-ship operators and other companies whose profits can benefit the most from a stronger economy where people are working and better https://en.wikipedia.org/wiki/Retail_foreign_exchange_trading able to pay for things. Norwegian Cruise Line steamed 4.9% higher, JPMorgan Chase rose 3.5% and the small companies in the Russell 2000 index gained 1.5%.
Markets
Friday’s jobs report was so strong that it pushed traders to abandon bets that the Fed will deliver another larger-than-usual cut to interest rates at its next meeting. They’re now forecasting zero chance for a cut of half a percentage point, according to data from CME Group. The Fed has begun cutting interest rates and Friday’s jobs report was so strong traders are now forecasting it will not deliver another half-point interest rate cut before the end of the year after doing so in September. Gold prices eased on higher US dollar and as bets firmed for a smaller US rate cut. Spot gold fell 0.1% to $2,650.79 per https://agc-platform.com/ ounce, while the US gold futures rose 0.1% to $2,670.20.
