News 

US jobs data is yet another worrying recession red flag — and Bank of America sees growth ‘bottoming out’ in early 2020

“But payrolls data can be equally as effective, especially in the short term, according to economists at Bank of America” writes Finanzen Net Gmbh for businessinsider.com. Combined, the disappointing jobs data, the bond market moves, and the yield curve may be a potent mix of trouble for US growth.Payrolls data was better than capital expenditure, PMI and consumer sentiment,” the economists said.Read More: The yield curve is inverted.Market watchers have been uneasy after seeing red flags for the economy — yields on bonds have hit rock bottom and the so-called…

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News Stocks 

Stocks open higher after weaker-than-expected jobs data

“Stocks opened higher Friday, set to cap a positive, holiday-shortened week, after August jobs data showed a smaller-than-expected rise in nonfarm payrolls” reports marketwatch.com. The Labor Department said the U.S. economy added 130,000 jobs in August, coming in below the 170,000 expected, on average, by economists.The weaker-than-expected reading on payrolls was seen underscoring expectations for the Federal Reserve to cut rates when it meets later this month. Source: marketwatch.com

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Markets News 

Jobs report called ‘meh’ as hiring slows

“Economists were underwhelmed by the number of jobs added in August, but said the details of the report were better than the overall figure” writes Robert Schroeder for marketwatch.com. Read more about the August jobs report from MarketWatch. • Renaissance Macro summed it up by saying “meh.” • Sal Guatieri of BMO Capital Markets said the details of the report were better than the headline, noting among other things aggregate work hours rebounded 0.4% after declining half as much in July. “This supports our 1.9% call for Q3 GDP growth.So,…

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Futures News Stocks 

Dow futures trade higher ahead of jobs data

“U.S. stock index futures traded higher on Friday morning as investors looked ahead to nonfarm payroll numbers due later in the day” writes Spriha Srivastava for cnbc.com. ET Dow futures traded 85 points higher, implying a positive open of more than 57 points.Futures on the S&P and Nasdaq also traded higher but pointed to a slightly negative open.China insiders have also hinted that the upcoming trade talks could lead to a “breakthrough.”. Meanwhile, risk sentiment was also helped by upbeat U.S. economic data on Thursday. Source: cnbc.com

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News 

Preview: August tends to be a soft month for non-farm payrolls

“However that’s in contrast to the employment component of the ISM report, which fell to 53.1 from 56.2” reports forexlive.com. The consensus for tomorrow’s report is +160K but the market is likely leaning higher after today’s ADP report showed 195K new jobs. But it probably won’t happen again in this cycle,” he wrote today and also warned that the ISM employment component is a good forward-looking indicator.For the jobs report he forecasts a rise of 180K. “After ADP I’d say the chance of a 200K-plus official payroll reading tomorrow is…

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News Regulators Stocks 

US retail sales preview: Did Powell give away a strong report?

“In his interview aired on Friday (and recorded late last week), Fed Chairman Powell said there is some evidence of a rebound in January retail sales” reports forexlive.com. US January retail sales data is due out Monday at 8:30 am ET (1230 GMT) and the number is sure to have an outside impact on the US dollar, especially after Friday’s poor non-farm payrolls headline.Even if he didn’t the Fed gets plenty of data and he may have other reasons to believe a strong number is coming.Maybe it was the shutdown…

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News 

Job Creation Grinds to a Near-Halt in February; Wages Still on the Rise

“Job growth came to a near halt in February after a blistering start to the year, with nonfarm payrolls increasing by just 20,000 even as the unemployment rate fell to 3.8 percent, the Labor Department reported Friday” writes unknown author for cnbc.com. It was the worst month for job creation since September 2017, when two major hurricanes hit the employment market, offset somewhat by a solid increase in wages. Source: cnbc.com

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