Stocks shed early gains, end lower for 3rd straight week

Stocks gave up an early rally and closed lower Friday, marking their third losing week in a row and extending Wall Street’s late-summer slump.

“The jobs report today was nice, but it was not enough to obviously sustain the rally,” said Ross Mayfield, investment strategist at Baird. “The bar to clear is ‘does this change the trajectory of the Fed?’ And I don’t know that this report is enough to say yes.” Average hourly pay jumped 5.2% last month from a year earlier, but slowed slightly from July to August. That’s a welcome sign in the inflation fight, as businesses typically pass the cost of higher wages on to their customers through higher prices.

Market watchers such as David Kelly, chief global strategist at J.P. Morgan Asset Management, said they still expect the central bank to raise rates later this month by another 0.75 percentage points. “The Fed is not going to be swayed by one or two pieces of data, and they are steadfast about getting inflation down,” Mayfield said. “They need a really broad and long body of evidence before they’re going to pivot because the last thing they want is to quit too early.”

Fck the market. The market is the ahole that keeps telling us that if things are too good, it’ll cause inflation (better raise rates before we can all afford houses!). The market tells us it’s bad when employees have power (No! The plebs might make $$!)

Portugal Últimas Notícias, Portugal Manchetes

Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.

Why stock-market investors are cheering an August jobs report that came in 'right down the middle'A slower but solid gain in U.S. employment in August sparked a rise in stocks on Friday as Wall Street assessed one of the last major economic reports the...
Fonte: MarketWatch - 🏆 3. / 97 Consulte Mais informação »

How investors are reading an August jobs report as U.S. stocks close at lowest level since JulyA stock market rally that followed a healthy gain in U.S. employment in August gave way to losses on Friday, as Wall Street assessed one of the last major economic reports the Fed will see before it raises its benchmark interest rate later this month.
Fonte: MarketWatch - 🏆 3. / 97 Consulte Mais informação »

Chinese Stocks Could Plunge by 20% If Real Estate Troubles Get Much Worse, Morgan Stanley SaysChina’s real estate problems could significantly drag down the economy and stocks if authorities don’t provide enough support, Morgan Stanley analysts said.
Fonte: nbcchicago - 🏆 545. / 51 Consulte Mais informação »

Stocks are pulling back, but UBS sees costs of sitting on the sidelinesThe S&P 500 could post 7%-10% annualized returns in the next decade, despite a wall of uncertainty and the latest pullback, according to UBS Global Wealth. What are you all on? Do you even trade on the real market or just look at “quality stocks”(way over traded) & ETFs? 90% of non-ETF stocks are already between 70-90% down! Barring Apple & ETFs all other stocks have been in a bear market since Feb21! Let’s make smth of these highs UBS trying to scrounge up bag holders
Fonte: MarketWatch - 🏆 3. / 97 Consulte Mais informação »