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Indexes hit fresh all-time highs ahead of the key inflation report for September due Thursday. AdvertisementUS stocks jumped on Wednesday as traders looked ahead to coming inflation data and took in the minutes of the Federal Reserve's last meeting. The stakes of the next inflation reading have risen after the big September jobs number, and Wall Street could be in for some volatility in the event of an upside surprise, Bank of America said this week. Central bankers predicted inflation would fall to 2% by 2026, while risks to economic strength were "tilted to the downside." According to the CME FedWatch tool, the odds for another jumbo-sized rate cut in 2024 have fallen to zero.
Persons: , Josh Hirt, Oliver Allen Organizations: Service, Dow Jones Industrial, Investors, Nasdaq, Justice, Treasury, Here's, Fed, Bank of America, Vanguard, Pantheon
CNN —US job growth surged in September, blowing past expectations and providing solid reassurance for the ongoing stability of the labor market. Employers added an estimated 254,000 jobs in September, according to data released Friday by the Bureau of Labor Statistics. “The outlook for the economy in the months ahead is quite favorable, according to the September jobs report. As job gains dropped off from their once breakneck pace, economists were quick to note that the labor market was merely slowing and not at risk of imminent collapse. “The labor market is strong,” she said.
Persons: , ” Brian Bethune, , Chris Rupkey, , Elise Gould, Gould, Jerome Powell, September’s, it’s, ” Bethune, , , Josh Hirt, ” Hirt, they’ve Organizations: CNN, Employers, Bureau of Labor Statistics, BLS, Boston College, Service, Federal Reserve, FwdBonds, Economic Policy Institute, Federal, Vanguard, Boeing
Stocks week ahead: It's hell week on Wall Street
  + stars: | 2023-03-05 | by ( Nicole Goodkind | ) edition.cnn.com   time to read: +7 min
The unflinching resilience of the US labor market is one of — if not the — greatest source of tension in today’s economy. That means the Fed’s already painful rate hikes are likely to continue until the job market simmers. In just one year, the Federal Reserve has raised interest rates from nearly zero to a range of 4.5% to 4.75% to cool the economy. The labor market is stronger than ever: The US added a shocking 517,000 jobs in January and knocked unemployment down to its lowest level since 1969. If the labor market remains strong, more Fed-induced pain lies ahead.
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