Fall

The stock market will fall 13% to a new low for the year after a hot jobs report means inflation will linger and the Fed will keep tightening, Bank of America says

2 days ago   |   By Business Insider

Traders work the floor of the New York Stock Exchange David Dee Delgado/Getty Images The stock market is poised to hit new lows later this year following July's hot job report, Bank of America said in a Friday note. That's because inflation is likely to linger and the Fed will be forced to continue tightening financial conditions. "Still think end-game SPX is 3,600," BofA said, which represents 13% downside potential. The stock market is poised to hit a new low in 2022 as good news is now bad news when it comes to investors processing economic data, according to Bank of America's Michael...
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Jobs data could fuel recession fears and signal a pivot in sentiment. This is what you should watch for

2 days ago   |   By Business Insider

Happy Jobs Day, market watchers. Today's report will be a pivotal data point in the recession conversation, second only to the upcoming consumer inflation reading due out next Wednesday. I'm Phil Rosen, sitting on the edge of my seat for 8:30 a.m. ET when July's nonfarm payrolls report comes out. This morning's announcement will bring more clarity as to whether the US is in fact in an actual recession, following last week's data that revealed that the economy has met the technical definition of the term. And that, my friends, holds serious implications for sentiment across the world...
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The US added 528,000 jobs in July, showing a booming labor market despite recession fears

2 days ago   |   By Business Insider

A "now hiring" sign is displayed in a window in Manhattan on July 28, 2022 in New York City. Spencer Platt/Getty Images
The US added 528,000 jobs in July, exceeding the median estimate of 250,000 new payrolls.
The unemployment rate fell to 3.5%, landing below the 3.6% forecast.
The report shows job creation rebounding despite rising interest rates and slower growth.
Job creation surged past economists' forecasts in July as the labor market's strength overpowered higher interest rates and elevated inflation. The US economy added 528,000 nonfarm payrolls last month, the Bureau of Labor...
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Remote work is causing a massive shift in salaries around the country

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