A sharp slowdown in the U.S. job market that touched off days of global stock-market turmoil also fueled speculation the Federal Reserve may not wait until its next scheduled meeting.
While maintaining interest rates at their highest point in over 20 years on Wednesday, the Federal Reserve made a suggestion that lower borrowing costs may soon be implemented by policymakers due to slight recent improvements in inflation.
Fed Governor Christopher Waller and New York Fed President John Williams both voiced that description of the shortening horizon toward looser monetary policy.
The Nasdaq and the S&P 500 hit record highs on Wednesday as strength in Nvidia and other mega stocks supported Wall Street’s winning streak.
The economy grew by 206,000 jobs in June, but unemployment was above 4% in the same month, according to the Labor Department said on Friday.
The Fed is almost certain to hold its benchmark overnight interest rate steady, with investors placing nearly a 100% probability on that outcome.
The number of Americans filing new claims for unemployment benefits unexpectedly fell last week.
The Federal Reserve left interest rates unchanged on Wednesday but took a major step towards lowering them in coming months.
Millions of “gig” workers may get missed every month in the U.S. government’s employment report.
Regulators and traders were trying to gauge the impact of a ransomware attack on the Industrial and Commercial Bank of China.