Traders work on the floor of the New York Stock Exchange (NYSE) as the Federal Reserve Board Chairman Jerome Powell holds a news conference on December 19, 2018 in New York City.Spencer Platt/Getty Images The US labor market still looks like it's running hot. Thursday's ADP data was double economists' estimate, with a headline gain of 497,000 jobs. The reading suggests further rate hikes from the Fed and pain ahead for stocks.
Why The Latest Job-market Data Is A Worst-case Scenario For Stock Bulls
prosen@insider.com (Phil Rosen), Business Insider
Thu, 07/06/2023 - 10:14am
Topics: so you new york stock exchange nyse reserve board chairman jerome powell december city spencer platt/getty images the us june july reserve chair jerome powell oanda edward moya dow jones industrial average s&p nasdaq composite treasury michael reinking cme bill adams comerica bank ism services may's 339,000.read business insider york new york stock exchange fed adp thursday's adp data bulls market labor rate hikes traders senior response report economists strong highs hot month case tightening inflation hike jobs work two-year expected policy payrolls monetary gain points yields
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