Cooling U.S. jobs data buys the Fed and stock market more time

A tepid June U.S. jobs report eased concerns that an overly strong labor market would push the Federal Reserve to become more hawkish against inflation. The relief helped support U.S. equities after prior worries that hawkish shift would weigh on highflying tech stocks leading this year’s rally.

Analysis

A tepid June U.S. jobs report eased concerns that an overly strong labor market would push the Federal Reserve to become more hawkish against inflation. The relief helped support U.S. equities after prior worries that hawkish shift would weigh on highflying tech stocks leading this year’s rally.