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By Staff Reporters
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U.S. stocks traded noticeably lower on the heels of the September nonfarm payroll report, but was still able to post weekly gains following the strong rebound on Monday and Tuesday. The labor data showed job growth rose more than predicted, while the unemployment rate unexpectedly declined, and the labor force participation rate surprisingly dipped. The report seemed to dampen recently increased optimism that the Fed could decelerate its aggressive monetary policy tightening campaign.
In other economic news, wholesale inventories were unrevised at a solid gain, and data on consumer credit showed consumer borrowing was well above expectations.
Treasury yields rose following the labor report, and the U.S. dollar continued to rebound from a stumble earlier in the week.
Crude oil prices climbed following the decision from OPEC+ to cut oil production and gold traded lower.
Asian stocks finished out the week broadly lower, and European stocks trimmed a weekly gain as volatility remained in the currency and bond markets across the globe.
CITE: Charles Schwab Co.
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CITE: https://www.r2library.com/Resource/Title/082610254
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Filed under: Alerts Sign-Up, Alternative Investments, Experts Invited, Glossary Terms, Investing | Tagged: bonds, jobs report, oil, Stocks Closed Lower In September, treasuries, USBLS |
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