Whether this is the correction investors have been waiting for could be made clear in the week ahead, after a weak jobs report added to fears of slowing growth and revised the monetary policy outlook. Stocks plunged to end the week after the July nonfarm payrolls report came in far below Wall Street estimates, implying that the strong labor market has finally faltered, after bolstering the U.S. economy amid persistent inflation and a historically aggressive rate-hiking cycle .
"We expect that we will see a positive correlation between interest rates and stock prices going forward," Kantrowitz wrote. Others were more sanguine. Jan Hatzius, chief economist at Goldman Sachs, on Friday said he does not expect a recession, noting that the Federal Reserve has plenty of room to combat any economic softness given the federal funds rate currently stands at 5.25% to 5.50%.
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:
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Japan stocks plunge 5% with Asia markets broadly lower after Wall Street sell-offThe gloomy sentiment in Asia markets after a sell-off on Wall Street in Thursday's trading session, which saw all three major U.S. indexes plunge on recession fears.
Source: CNBC - 🏆 12. / 72 Read more »
Japan's stocks plunge 5% with Asia markets broadly lower after Wall Street sell-offThe gloomy sentiment in Asia markets after a sell-off on Wall Street in Thursday's trading session, which saw all three major U.S. indexes plunge on recession fears.
Source: CNBC - 🏆 12. / 72 Read more »
Big Tech weakness holds back Wall Street even as most stocks riseThe Standard & Poor's 500 slipped 0.5%, even though 2 out of 3 stocks within the index rose. The Dow rose 0.5% and the Nasdaq composite sank 1.3%.
Source: latimes - 🏆 11. / 82 Read more »
Stock market today: Asian stocks track Wall Street gains ahead of central bank meetingsAsian stocks started the week with gains ahead of central bank policy meetings in the United States and Japan, after a broad rally on Wall Street that capped a tumultuous week. Japan's Nikkei 225 index jumped 2.1%. U.S. futures and oil prices rose. On Friday, the S&P 500 rose 1.1% for its best day in seven weeks.
Source: AP - 🏆 728. / 51 Read more »
Stock market today: Asian stocks track Wall Street gains ahead of central bank meetingsAsian stocks started the week with gains ahead of central bank policy meetings in the United States and Japan, after a broad rally on Wall Street that capped a tumultuous week.
Source: ksatnews - 🏆 442. / 53 Read more »