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Dollar Bounces on Job Gains, Then Pares Ahead of CPI
The August payrolls report showed 162,000 jobs added and lifted CME FedWatch odds of a September rate hike to 58.4%, according to markets.
- Wall Street indexes dipped on Friday as the Labor Department reported 162,000 new jobs, nearly three times the consensus, raising the probability that the Federal Reserve will hike interest rates this month.
- Financial markets now price in a 58.4% likelihood of a 25-basis-point rate hike at the Fed's September meeting, up from 49.4% on Thursday, as the economy continues to run on the hot side.
- Credit reporting firms slid after Federal Housing Finance Agency Director Bill Pulte announced Fannie Mae and Freddie Mac will use VantageScore, while Lululemon Athletica tumbled 17.4% following profit forecast cuts.
- Ahead of the three-day Labor Day weekend, all three major U.S. indexes closed lower in a broad selloff, with markets scheduled to remain closed on Monday.
- Next week's Labor Department consumer and producer price index releases will provide clarity on inflation, Ryan Detrick, chief market strategist at Carson Group, said.
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The Economic TimesReposted by 
Times of India
Times of IndiaDollar bounces on job gains, then pares ahead of CPI
The U.S. job market showed surprising resilience in August, adding 162,000 positions—far beyond what analysts anticipated. This result has led to heightened expectations for a Federal Reserve rate increase in September. However, the dollar softened slightly as traders now focus on looming inflation reports. Wages saw a year-over-year uptick of 3.1%, the weakest growth since June 2021, while the yen appreciated against the dollar throughout the w…
·Mumbai, India
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Wall Street ends lower as solid jobs data fuels hawkish Fed bets | Honolulu Star-Advertiser
NEW YORK >> Wall Street dipped today as a robust jobs report raised the probability that the U.S. Federal Reserve will increase its key interest rate at this month’s monetary policy meeting.
·Honolulu, United States
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Coverage Details
Total News Sources12
Leaning Left1Leaning Right4Center3Last UpdatedBias Distribution50% Right
Bias Distribution
- 50% of the sources lean Right
50% Right
13%
C 37%
R 50%
Factuality
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