Stock market news today: Strong jobs data suggests more hawkish Fed moves

US stocks fell on Thursday after a hot ADP jobs report reinforced the Federal Reserve's hawkish view that it needs to continue with interest rate hikes in 2023 in order to cool the economy and rein in inflation.

The report showed 235,000 jobs were added in December, well ahead of estimates for an increase of just 153,000. The Labor Department's nonfarm payrolls report will be released Friday, and consensus estimates currently expect a gain of 210,000. The Fed is expected to hike interest rates by 25 basis points at its upcoming February meeting, and hike rates by a total of 75 basis points in 2023. That would put the effective federal funds rate above 5%.

Retiring Kansas City Fed President Esther George told CNBC on Thursday that she believes the Fed should hike interest rates above 5% and hold them at that level well into 2024. That runs against market expectations,

France Dernières Nouvelles, France Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

STOCK MARKET NEWS: Salesforce layoffs, Fed’s signals more rate hikes, Mega Millions jackpot growsStocks rebound on second trading day of the new year as oil falls on global growth concerns, Fed signals future pace of rate hikes in latest minutes, Salesforce layoffs announced. FOX Business is providing real-time updates on the markets, commodities and all the most active stocks on the move. Sell, Sell, Sell! When have the Republicans had a decent Spesker- Gingrich?
La source: FoxBusiness - 🏆 458. / 53 Lire la suite »