Markets are waiting for Friday’s U.S. NFP jobs report, which could heavily influence the Federal Reserve’s next move on interest rates.
Traders want a result that supports the case for rate cuts but doesn’t raise fears of a weakening economy. The ADP private payrolls report showed 54,000 new jobs in August. Stocks moved higher on the news, as wall street saw the number as weak enough for the Fed to cut rates in September, but not so weak that it signals a recession.
According to CME Group’s FedWatch tool, there is now a 97% chance the Fed will lower rates when it meets in two weeks.
For the exact date and time of these major economic events, import the BlackBull Markets Economic Calendar to receive alerts directly in your email inbox.
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