Surprisingly strong jobs report fuels inflation worries

Österreich Nachrichten Nachrichten

Surprisingly strong jobs report fuels inflation worries
Österreich Neuesten Nachrichten,Österreich Schlagzeilen
  • 📰 10News
  • ⏱ Reading Time:
  • 55 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 25%
  • Publisher: 50%

The market already looked like it was set to weaken coming into the day, before the jolting jobs report. Several big tech companies reported weaker profit for the latest quarter.

Wall Street's rally hit a wall after a surprisingly strong jobs report fueled worries about inflation and higher interest rates.

The Dow Jones Industrial Average was down 155 points, or 0.5%, at 33,898, as of 3:14 p.m. Eastern time, while the Nasdaq composite was 1.6% lower. Then came the jobs report, which showed employers created a net 517,000 jobs last month. That was way above the 185,000 that economists expected and a sharp acceleration from December's 226,000 jobs.

"It's going to get harder to argue that rate cuts may be in 2023's future if the labor market is able to continue like this, especially considering that it remains to be seen how quickly inflation will fall, even if we have reached the peak," said Mike Loewengart, head of model portfolio construction at Morgan Stanley Global Investment Office.

Some analysts said they were paying more attention to the data on wages in the jobs report than on overall hiring, which wasn't as surprising. Also helping to muddy the picture was a report showing the U.S. services sector returned to growth in January. It was a much stronger reading than expected, though it also suggested pricing pressures may be easing.

Wir haben diese Nachrichten zusammengefasst, damit Sie sie schnell lesen können. Wenn Sie sich für die Nachrichten interessieren, können Sie den vollständigen Text hier lesen. Weiterlesen:

10News /  🏆 732. in US

Österreich Neuesten Nachrichten, Österreich Schlagzeilen

Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.

Last Of Us Creator Had Surprisingly Emotional Reaction To Real ClickersLast Of Us Creator Had Surprisingly Emotional Reaction To Real ClickersThough they're terrifying creatures, TheLastOfUs creator Neil Druckmann admits he almost cried when he first saw the HBO show's Clickers: 'And I am seeing it in real life and everybody’s kinda looking at me and I am getting teary-eyed.'
Weiterlesen »

Superhero doppelgangers: These DC and Marvel characters are surprisingly similarSuperhero doppelgangers: These DC and Marvel characters are surprisingly similarThey may exist in parallel universes, but heroes like Iron Man and Batman and villains like Thanos and Darkseid have more in common than you realize
Weiterlesen »

Singles will ditch a bad date in a surprisingly short time, study saysSingles will ditch a bad date in a surprisingly short time, study saysRudeness (48%), a companion constantly checking their phone (37%) and an awkward atmosphere (36%) are the top reasons for wanting out.
Weiterlesen »

The surprisingly easy process of buying an SF delicacy off the boatThe surprisingly easy process of buying an SF delicacy off the boatA San Francisco delicacy worth getting up early for.
Weiterlesen »

US adds a surprisingly strong 517,000 jobs despite Fed hikesUS adds a surprisingly strong 517,000 jobs despite Fed hikesBREAKING: America’s employers added a robust 517,000 jobs in January, a surprisingly strong gain in the face of the Federal Reserve’s aggressive drive to slow growth and tame inflation with higher interest rates. The unemployment rate dipped to 3.4%.
Weiterlesen »

U.S. Adds A Surprisingly Strong 517,000 Jobs Despite Fed HikesU.S. Adds A Surprisingly Strong 517,000 Jobs Despite Fed HikesThe unemployment rate dipped to 3.4%, a new half-century low.
Weiterlesen »



Render Time: 2025-03-13 03:53:41