U.S. stocks open sharply lower after stronger-than-expected inflation data

U.S. stock indexes opened lower on Friday after the November jobs report shows a sign of continued strength in the labor market, raising concerns that the Federal Reserve's policy will remain tighter for longer. The U.S. created a robust 263,000 new jobs in November, a historically strong pace of hiring that threatens to prolong a bout of high U.S.

inflation. The unemployment rate held at 3.7%, while the average hourly earnings rose twice as much as forecast. The S&P 500 SPX, -0.97% lost 1%, while the Dow Jones Industrial Average DJIA, -0.79% declined 0.7% and the Nasdaq Composite COMP, -1.13% dropped 1.3%. The policy sensitive 2-year Treasury yields jumped to 4.364% from 4.254% on Thursday.

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Layoffs mount as job market gets murkyThe November jobs report out Friday morning will shed light on the health of the U.S. labor market, which is rapidly deteriorating as the Fed raises interest rates. Maybe stop supporting able bodied ppl with welfare, etc. Murky? Dimms have their boot on the neck of most Americans! News says the lay offs growling a cross the nation. Guess buckling down for two more years of Biden spending.
Источник: FoxBusiness - 🏆 458. / 53 Прочитайте больше »