Dow Jones, S&P 500, Nasdaq: US Stocks Up Despite Strong Job Market Report
US employment in August rose more strongly than expected by economists. The market is now growing concerned that the Federal Reserve may be forced to raise interest rates after all.
The US job market added 162,000 jobs in August, far exceeding expectations of 56,000. The unemployment rate remained steady at 4.1%. The strong job market data has increased bets on a potential interest rate hike by the Federal Reserve, with markets now pricing in a 65% chance of a hike, up from 55%. The yield on 10-year US Treasury bonds rose to 4.796%, and the dollar index gained 0.3%. Stocks reacted mixed, with Lululemon and Adobe shares plummeting 17% and 6.6% respectively after disappointing news.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
