While a strong labor market would often be welcomed as a sign of economic strength investors currently see it as a key reason for the Federal Reserve to keep interest rates high.
"It's very clear that good news on the labor market means bad news for the stock market. Data is showing that the labor market is very resilient," said Anthony Saglimbene, chief market strategist at Ameriprise in Tory Michigan. "As long as the labor market is resilient, the Federal Reserve has to continue to tighten financial conditions to bring inflation down," said that strategist who expects investors to be keenly focused on wage inflation in Friday's jobs report.
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Stocks close higher, snap 2-day losing streak as Wall Street shakes off Fed minutesStocks closed higher Wednesday as investors looked past Fed meeting minutes that showed the central bank will remain aggressive in its policy to tame high inflation. The Dow gained 0.40%. The S&P 500 popped 0.75%. The Nasdaq rose 0.69%.
Source: CNBC - 🏆 12. / 72 Read more »
After a brutal 2022 for stocks, here's what Wall Street predicts for 2023Inflation, interest rates and a possible recession could weigh on markets. But there are also reasons for bullishness. Find ways to tighten your belt and force down inflation! Why does CBS hold the crank Paul Ehrlich up as an authority on anything? He's been wrong about everything for the last 50 years. It was bad for Hitler to do what he did to remedy his Malthusian fears. Why does CBS push Ehrlich's recycled Malthusian irrationality? Probably should have not have voted for dementia.
Source: CBSNews - 🏆 87. / 68 Read more »