Wall Street adds to stock, rate cut bets after 'Thanksgiving buffet' jobs data
By Lawrence Delevingne and Iain
Withers
Fri December 6, 2024 4:39 PM
The employment report came in with a rosy 227,000 new jobs vs a 200k forecast and the October numbers were upwardly revised from the dismal 12,000 to now 36,000 new jobs. This is being called a Goldilocks report since it is neither so good as to discourage a December rate cut nor so bad as to raise concerns of a slowdown. As today’s expert opined, “This doesn’t kill the holiday spirit and the Fed remains on track to deliver a cut in December.” Since that’s good news for tech, industrials sank a bit from recent records as money flowed back to risk-on. Per the CBOE, 13.2 billion shares were traded, well below the 4-week average.
DJ: 44,765.71 -248.33 NAS: 19,700.26
-34.86 S&P: 6,075.11
-11.38 12/5
DJ: 44,642.52 -123.19 NAS: 19,859.77 +159.05 S&P: 6,090.27 +15.16 12/6
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