Key Points
NEW YORK/LONDON (Reuters) -Treasury yields jumped, the dollar surged and world equities rallied on Friday after a blowout U.S. jobs report scuttled any lingering expectations of a near-term cut in interest rates and highlighted a strong economy...
The benchmark 10-year Treasury note yield shot above 4% and the dollar gained against all major currencies as employers added far more jobs than expected and average hourly earnings increased 0.6% after rising 0.4% in December...
When you go through all the specific details, there were really very few if any pockets of weakness. It was just a very, very strong report and that by itself would suggest that a recession certainly isnt imminent, he said.. MSCIs gauge of stocks across the globe advanced 0.74% while on Wall Street, the tech-laden Nasdaq and benchmark S&P 500 rose 1.86% and 1.30% respectively, as investors cheered robust quarterly results from Meta Platforms and Amazon.com...
Gains by the Dow Industrials were a bit more subdued, rising 0.61%, but low unemployment and a strong economy suggest corporate earnings can increase.. Meta surged 20.8% to hit a record high after issuing its first dividend days ahead of Facebooks 20th anniversary, along with a revenue and profit beat on advertising sales in the holiday shopping period...
After the jobs report, money markets projected the Fed would lower its target rate, currently in a range of 5.25%-5.5%, by 123.3 basis points by year-end, down from 140.3 bps just before the data was released...
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