Watch BNN Bloomberg live.That’s the message from Wall Street as fresh uncertainty about the rates path and the economy is creating a double tail risk for stocks into Friday’s US nonfarm payrolls data. Traders and strategists warn of declines if the print deviates too far in either direction.
Economists are looking for US nonfarm payrolls to have grown by 165,000 in December, according to the median estimate in a survey of economists by Bloomberg. Should the data disappoint to the downside, with less than 100,000 new jobs, then stocks might suffer a decline of similar magnitude. To Goldman, the “sweet spot” for equities may be 100,000 to 125,000 jobs added.
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