The stronger-than-expected September jobs report is good news for Main Street and Wall Street, CNBC's Jim Cramer said Friday. Job gains of 254,000 in the month — paired with solid hourly earnings gains — suggest the U.S. economy is in a solid spot despite lingering slowdown fears, Cramer said. That kind of backdrop should lend support to corporate earnings and by extension the stock market, he said. Indeed, all three major U.S.
The September jobs report arrived about two weeks after the Federal Reserve began its easing cycle with a larger-than-usual half-percentage point reduction in its benchmark lending rate. In March 2022, the U.S. central bank began an aggressive hiking campaign that eventually brought interest rates to their highest levels in more than two decades in an effort to slow the U.S. economy and stamp out surging inflation.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: NBCPhiladelphia - 🏆 569. / 51 Read more »
Source: CNBC - 🏆 12. / 72 Read more »
Source: CNBC - 🏆 12. / 72 Read more »