Jobs Report Preview: Could September Labor Data Shift Fed's Interest Rate Path?
Portfolio Pulse from Chris Katje
The upcoming September jobs report could influence the Federal Reserve's decision on interest rate cuts in November. Economists predict a slight decline in nonfarm payrolls and a steady unemployment rate. The report may not significantly impact the stock market as investors expect weak payroll numbers.
October 03, 2024 | 4:50 pm
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NEUTRAL IMPACT
The SPDR S&P 500 ETF Trust (SPY) is trading nearly flat ahead of the September jobs report. The report's outcome may not significantly impact SPY as investors are already expecting weak payroll numbers.
The SPY ETF is closely tied to overall market performance. Since investors are already anticipating weak payroll numbers, the report may not cause significant price movement unless the data is an outlier.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 70