![]() Jobless claims data "lends credence to the idea that the Fed's rate hikes are beginning to cool down the labor market and slow down the economy," said Chris Zaccarelli, CIO at Independent Advisor Alliance. Nonfarm payrolls have been showing solid growth despite layoffs across tech and financial sectors, but many believe the trend is poised to reverse soon. Investors will still closely monitor March jobs report Friday morning. Thursday capped off a shortened trading week with the market closed for Good Friday. "The Fed built a wall with interest rates and now the economy is running into it," said Jamie Cox, managing partner at Harris Financial Group. But they are now wondering if the central bank has gone too far in its bid to cool inflation, tightening the economy to the point of a recession. Over the past several months, investors had cheered signs of economic cooling on the hope that it could push the Federal Reserve to change course on its interest rate hiking campaign. Job cuts have also soared by nearly fivefold so far this year from a year ago. Meanwhile, the number of available positions fell below 10 million in February - a first in almost two years. ![]() The expansion in private payrolls was well below expectations in March, ADP said earlier this week. The market remained volatile as the latest weekly jobless claims came in higher than expected, adding to recent signals that pointed to slowing job growth. The tech-heavy Nasdaq fell 1.1% this week, while the 30-stock Dow rose 0.6%. The S&P 500 still lost 0.1% on the week, posting its first losing week in four. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |