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Policy▲ Bullish for Indian equities
Bets on an October Fed rate hike fall as US job market cools
The brief
- The US added 29,000 jobs last month, below economists’ forecast of 90,000
- The unemployment rate rose to 4.2%
- Why US stocks are rising: Nasdaq hits record after weaker jobs data cools rate-hike bets; Nike shares drop on forecast
- ‘Workers growing increasingly anxious’: US adds 29k jobs, far below 90k expected
- US Stock Market Today: Nasdaq Jumps 1%, Dow Up 300 Points As Yields Retreat After Weak Jobs Data
- US jobs growth falls sharply to 29,000 in September; rate-hike bets tumble, futures surge
- Jim Cramer's top 10 things to watch in the stock market Friday
US rate hike expectations ease
Softer-than-expected US inflation weakened the dollar and pulled Treasury yields lower, prompting traders to reduce expectations for Fed rate hikes. Goldman Sachs shifted its forecast for the next hike from October to December; subsequent reports cited cooling jobs data as further reducing October hike odds.
Friday, 2 October
- Bets on an October Fed rate hike fall as US job market cools