right: Investors bet that labour market weakness would give the Fed a reason to provide the economy with more support, pushing the S&P 500 and the Dow to their biggest weekly gains since the end of November, right before a massive year-end sell-off, according to Nine News Australia. A Labor Department report showed non-farm payrolls increased by 75,000 jobs last month, much smaller than the 185,000 additions estimated by economists in a Reuters poll, suggesting the loss of momentum in economic activity was spreading to the labour market. To improve your experience update it here Broncos v Titans News WorldUS stocks rally on rate cut, trade hopes By AAP7 06am Jun 8, 2019Facebook Tweet MailUS share markets have charged higher as sharply slowing US jobs growth boosted hopes for Federal Reserve interest rate cuts while optimism about potential progress in US trade fights with China and Mexico added to risk appetites. As a result traders raised bets for a rate cut in July followed by two more rate cuts by year-end. Investors are putting weak jobs in the context that it might result in a more timely Fed action which would be more supportive than if they wait too long, he said. The jobs report indicates there's some weakness but the economy does remain relatively robust at this point, said Peter Jankovskis, co-chief investment officer at Oak Brook Investments LLC in Lisle, Illinois.
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