Jobs Report: Fed Rate-Cut Odds Jump As Hiring Stalls Amid Strike, Hurricane; S&P 500 Rises

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Jobs Report: Fed Rate-Cut Odds Jump As Hiring Stalls Amid Strike, Hurricane; S&P 500 Rises

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The October jobs report showed that payroll gains nearly ground to a halt, far worse than expected, amid the ongoing Boeing strike and a hit from Hurricane Milton. Unemployment moved higher, but not ...

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Unemployment moved higher, but not ...</p>\n\n<a href=\"https://www.investors.com/news/economy/jobs-report-oct-unemployment-rate-federal-reserve-sp-500/\">Source Link</a>\n\n</div>\n","source":"investor_business_daily_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Jobs Report: Fed Rate-Cut Odds Jump As Hiring Stalls Amid Strike, Hurricane; S&P 500 Rises</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nJobs Report: Fed Rate-Cut Odds Jump As Hiring Stalls Amid Strike, Hurricane; S&P 500 Rises\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-01 21:44 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.investors.com/news/economy/jobs-report-oct-unemployment-rate-federal-reserve-sp-500/><strong>Blockhead</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The October jobs report showed that payroll gains nearly ground to a halt, far worse than expected, amid the ongoing Boeing strike and a hit from Hurricane Milton. Unemployment moved higher, but not ...</p>\n\n<a href=\"https://www.investors.com/news/economy/jobs-report-oct-unemployment-rate-federal-reserve-sp-500/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1435385759.SGD","symbol_name":"Natixis Loomis Sayles US Growth Equity RA SGD-H","start_time":0,"source_url":"https://www.investors.com/news/economy/jobs-report-oct-unemployment-rate-federal-reserve-sp-500/","article_id":"2480838056","we_media_id":null,"thumbnails":["https://www.investors.com/wp-content/uploads/2019/03/stock-Federal_Reserve-spring-12-adobe-150x150.jpg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2480838056","pubTimestamp":1730468659,"sourceInfo":{"source_id":"investor_business_daily_highlight","name":"Investor’s Business Daily"},"weMediaInfo":null,"summary":"The October jobs report, though muddied by Hurricane Milton and the Boeing strike, bolstered the case for addition Fed rate cuts, aiding the S&P 500.","collect":0,"end_time":0,"defaultTopTitle":"investors.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU1435385759.SGD":"Natixis Loomis Sayles US Growth Equity RA SGD-H","BK4504":"桥水持仓","SDS":"两倍做空标普500ETF","BA":"波音","BK4516":"特朗普概念","BK4564":"太空概念","BK4187":"航天航空与国防","VOO":"Vanguard标普500ETF",".SPX":"S&P 500 Index","OEX":"标普100","UPRO":"三倍做多标普500ETF","BK4585":"ETF&股票定投概念","BK4534":"瑞士信贷持仓","SH":"标普500反向ETF","LU2326559502.SGD":"Natixis Loomis Sayles US Growth Equity P/A SGD-H","IVV":"标普500指数ETF","SSO":"两倍做多标普500ETF","BK4559":"巴菲特持仓","SPXU":"三倍做空标普500ETF","OEF":"标普100指数ETF-iShares","BK4550":"红杉资本持仓","BK4588":"碎股","BK4551":"寇图资本持仓","SPY":"标普500ETF","LU1429558221.USD":"Natixis Loomis Sayles US Growth Equity RA USD","BK4581":"高盛持仓"},"translate_title":"就业报告：由于罢工和飓风导致招聘停滞，美联储降息的可能性上升；标准普尔500指数上涨","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{".SPX":1,"VOO":1,"US7Y.BOND":1,"US6M.BOND":1,"US5Y.BOND":1,"US3Y.BOND":1,"US30Y.BOND":1,"US2Y.BOND":1,"US12M.BOND":1,"US10Y.BOND":1,"SPY":1,"BA":0.9,"SSO":0.6,"US912797HE00.BOND":0.6,"UPRO":0.6,"SPXU":0.6,"SH":0.6,"SDS":0.6,"OEX":0.6,"OEF":0.6,"IVV":0.6,"ESmain":0.6},"content_text":"The October jobs report showed that payroll gains nearly ground to a halt, far worse than expected, amid the ongoing Boeing strike and a hit from Hurricane Milton. Unemployment moved higher, but not enough to lift the jobless rate. After the jobs report, the S&P 500 rose solidly as markets priced in a greater odds of additional Federal Reserve rate cuts.\nJob gains for August and September were revised sharply lower, supporting the case for further Fed easing.\n\n\n\n↑\nX\n\n\n\n\nThis Is How The Jobs Report Data Influences The Fed And Interest Rates\n\n\nSee All Videos\n\n\n\n\nNOW PLAYING\nThis Is How The Jobs Report Data Influences The Fed And Interest Rates\n\n\n\n\nJobs Report Hits And Misses\nThe 12,000 overall employment badly undershot economists' 125,000 forecast, according to Econoday. Private-sector employers cut 28,000 jobs vs. expectations of a 90,000 payroll gain. Government jobs rose by 40,000.\nHiring gains in August and September were revised down by 112,000 jobs.\nAverage hourly earnings rose 0.4% in October, above 0.3% estimates. Twelve-month wage growth of 4% met forecasts. Economists cautioned that Milton's hit to lower-wage work could have the effect of boosting average hourly pay.\nAhead of the report, some Wall economists predicted that the Boeing (BA) strike and its impact on contractors would lower net job gains by 40,000 to 45,000. Hurricane Milton was estimated to reduce employment by another 25,000 jobs, with a large margin of error. However, Fed Gov. Christopher Waller said recently that strikes and hurricanes may have reduced payrolls by more than 100,000.\nThe Bureau of Labor Statistics noted that its collection rate was \"well below average\" for the establishment survey that yields monthly payroll gains, which may have affected its accuracy.\nHousehold Survey\nThe headline job and wage figures come from the Labor Department's monthly survey of employers. The separate household survey details labor force participation, work status and the unemployment rate.\nThe unemployment rate held at 4.1%, as expected. That came as the ranks of the employed shrank by 368,000, outstripping the 220,000 decline in labor force participation. As a result, the ranks of the unemployed rose by 150,000.\nOn an unrounded basis, the unemployment rate rose to 4.14% from 4.05%.\nMore Jobs Report Details\nHealth care and social assistance employment rose by 51,300.\nOn the downside, leisure and hospitality employment fell by 4,000. Factory employment shrank by 46,000. Retailers cut 6,400 jobs. Temporary help services shed 48,500 jobs.\nStill, a diffusion index measuring the breadth of hiring across industries only fell to 55.6 in October from 59.8 in September. Numbers above 50 mean that more industries are firing than hiring. The diffusion index stood at 56.6 a year ago.\n\nWhat Trump Vs. Harris Election Outcomes Mean For S&P 500, Fed Rate Cuts\n\nWall Street Reacts To Jobs Report\n\"The muted rise in October payrolls is not merely due to strikes and the recent hurricanes,\" wrote Samuel Tombs, chief U.S. economist at Pantheon Macroeconomics. \"The slowing underlying trend, driven by tight monetary policy, also looks more pronounced after the huge downward revisions to August and September payrolls.\"\n\"Perhaps more important than October's muddled data are the revisions to prior months,\" which bolster the case for a Fed cut in December as well as next week, wrote David Royal, chief financial and investment officer at Thrivent.\nFed Rate Cut Outlook\nAfter the October jobs report, markets are pricing in 100% odds of a quarter-point rate cut at the Nov. 7 Fed meeting, up from 95% on Thursday, according to CME Group's FedWatch page. Markets now see 83% odds of a further 25-basis-point rate cut at the Dec. 18 Fed meeting, up from 75%.\nS&P 500\nThe S&P 500 rose 0.7% in early Friday morning stock market action after the jobs report. The 10-year Treasury yield slipped two basis points to 4.26%.\nOn Thursday, the S&P 500 closed out October on a down note, falling 1.9% on the session to snap a five-month winning streak.\nThat left the S&P 500 2.7% below its all-time closing high hit on Oct. 18, but still up 19.6% for the year.\nBe sure to read IBD's The Big Picture column after each trading day to get the latest on the prevailing stock market trend and what it means for your trading decisions.\nYOU MIGHT ALSO LIKE:\nThese Are The Best 5 Stocks To Buy And Watch Now\nJoin IBD Live Each Morning For Stock Tips Before The Open\nIBD Digital: Unlock IBD's Premium Stock Lists, Tools And Analysis Today\nAI News: Artificial Intelligence Trends and Top AI Stocks To Watch","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"Economic Data","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"hasMoreComments":false,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}