Stock Market Today: Stocks Stabilize After Jobs Report Jolt

Of the November job report Stocks took a hit today, with data from the Labor Department suggesting the Federal Reserve still has a long way to go in its efforts to slow the economy. In particular, the US added 263,000 jobs which was higher than expected in November, while the unemployment rate remained at 3.7% and the average hourly earnings were 5.1% on the year and this year. Stocks were initially sold off on the news, but the end of the day wasn’t nearly as bad as the start.

“Investors are focused on the continuation of inflation and the fear that the Federal Reserve will stimulate the reduction of the price hike and the reduction of balances. dysfunctionalthe news today is that private sector hourly earnings rose 0.6%, which was easily better than the 0.3% increase, a painful setback during the recession. back at the end of the fourth quarter,” said José Torres, senior economist. Interactive Brokers. “This is the third month in a row of accelerating payments and only two days later to come. Fed Chairman Jerome Powell it shows that the weak labor market is needed to offset multi-year high inflation.

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