Stocks jump, yields fall on hopes U.S. labor tightness ebbing

  • 📰 KitcoNewsNOW
  • ⏱ Reading Time:
  • 38 sec. here
  • 31 min. at publisher
  • 📊 Quality Score:
  • News: 119%
  • Publisher: 78%

Kitco News News

Gold,Silver,Platinum

The Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.

NEW YORK/LONDON, May 3 - Wall Street followed global shares higher on Friday after news that U.S. nonfarm payrolls grew less than expected last month, easing investor anxiety that tight labor markets and stubborn inflation would not let the Federal Reserve cut rates soon.

Traders increased bets in U.S. interest rate futures that the Fed could pivot to an easier policy in September. They now are pricing in two cuts of 25 basis points apiece this year, with a 78% chance of the first coming at the Fed's September meeting, compared with just one cut being forecast before the jobs numbers were released ahead of Wall Street's opening bell.

The yield on benchmark U.S. 10-year notes fell 6.7 basis points to 4.504%. The 2-year note yield, which typically moves in step with interest rate expectations, fell 9.4 basis points to 4.7827%. The MSCI All Country stock index , opens new tab extended gains to 1.133 after the U.S. data, though it was still down about 2% from its record high in March.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 13. in CA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market news: Tech rally keeps stocks afloat amid mixed earningsStocks edged higher on Wednesday as a rally in technology shares kept benchmarks afloat after disappointing earnings in the European banking and luxury sectors.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Stock market news: Tech rally drives up stocks as earnings roll inA renewed rally in some of the world’s largest technology companies propped up the U.S. stock market, with traders weighing another big batch of corporate earnings.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Stock market news: U.S. futures sink before data as tech stocks retreatTechnology stocks dragged down U.S. equity futures on Thursday after a disappointing outlook from Meta Platforms Inc. cranked up the pressure on other tech giants in a high-stakes earnings week.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Chinese demand will continue to support the gold market after the sharp drop from record highs -Metals FocusThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »