Despite weaker-than-expected job numbers in April, Wall Street is celebrating as the report suggests a potential delay in interest rate hikes. Bonds, stocks, gold, and cryptocurrencies are rallying in response to the news, with the VIX tumbling.
Wall Street is celebrating weaker-than-expected jobs numbers in the non-farm payrolls data this morning.
This report allegedly pushes cut to earlier date.
2-year Treasury yields are down whooping 15 basis points.
Bonds, stocks, gold, and crypto all are rallying. VIX tumbling. pic.twitter.com/4c1YchjQ8v
— Global Markets Investor (@GlobalMktObserv) May 3, 2024
Good Morning Everyone!
US job growth hit the brakes in April, posting its smallest gain in 6 months.
Nonfarm payrolls advanced only 175,000 versus 240,000 expected.
Seems like employers hit the pause button on hiring, signaling a potential slowdown in the labor market after a… pic.twitter.com/OYyxfVD5dM
— Genevieve Roch-Decter, CFA (@GRDecter) May 3, 2024
The economy added 175,000 jobs in April, much below expectations of 238,000.
The U.S. unemployment rate rose by 0.1% to 3.9%.
This is what markets are rallying off of?
— Financelot (@FinanceLancelot) May 3, 2024