Fed Seen More Likely to Deliver Bigger Rate Cuts as Job Openings Fall
Dow Jones09-04
Traders on Wednesday added to bets that the Federal Reserve will deliver a half-a-percentage-point reduction at its next meeting, after data showed job openings in July fell to the lowest level in three and a half years. Traders still see a quarter-point reduction at the Fed's Sept 17-18 meeting as the slightly more likelier move, but give a 50-basis-point cut about a 49% chance, up from 41% immediately before the data, rate futures contracts show.
Job postings fell to 7.7 million in July from a downwardly revised 7.9 million in June, the Labor Department said Wednesday.
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