Jobs Blowout Revives Rate-Hike Bets, but Record Earnings Cushion the Blow: This Week on Wall Street
August payrolls came in at 162,000, nearly triple consensus, pushing September rate-hike odds to 60%. Stocks rose anyway, backed by record earnings.
A lot of people got jobs last month, which usually makes the Fed want to raise interest rates (the cost to borrow money). But companies are making record profits, so investors stayed calm and stocks went up anyway.
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Source: Benzinga · Read the original report at the publisher. Headline and figures shown for context; data may be delayed.
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