U.S. Stocks Decline Amid Strong Job Growth Signals Inflation Risks
U.S. stocks fell as robust job growth raised inflation fears, prompting concerns about federal interest rate policies and their effect on the economy.
Biden touted the "transformational progress" the economy has made under his watch.
Joe Biden boasts of greatest presidency for job growth in history
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The better argument is that the Fed was simply wrong when it forecast a weakening labor market.
Business Digest: The Fed's View of the Economy Is Burning
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The graphical data highlights the disparity between foreign-born and American workers, which persisted throughout Biden’s term.
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U.S. stocks dropped on worries that good news on the job market may prove to be bad for Wall Street by keeping inflation and interest rates high.
How major US stock indexes fared Friday, 1/10/2025
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The market 'hinges' on inflation, with rising inflation, higher yields and a stronger dollar making it harder for companies to deliver on expectations.
Inflation data will be of paramount importance in the week ahead, with earnings kicking off
CNBC·2M·ReliableThis source consistently reports facts with minimal bias, demonstrating high-quality journalism and accuracy.CenterThis outlet is balanced or reflects centrist views."We started the year on the wrong foot," said Sam Stovall, market strategist at CFRA Research, commenting on the impact of a hotter-than-expected job data on equities.
Wall Street Ends Lower After Blowout Job Data
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Summary
U.S. stocks dropped as the S&P 500, Dow Jones, and Nasdaq faced losses after a surprising jobs report showed the economy added 257,000 jobs in December. President Biden highlighted this job growth as historic during his administration. The unemployment rate decreased slightly to 4.1%. As a result, there is increasing speculation that the Federal Reserve might maintain interest rates or consider hikes rather than cuts. The bond market reacted with increased Treasury yields, reflecting concerns about inflation and the Fed's future policy direction.
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