U.S. stock bulls are taking heart from a range of market signals pointing to an upbeat year for Wall Street, as equities sit on impressive gains despite worries that the Federal Reserve's monetary policy tightening may plunge the economy into a recession.
U.S. stock bulls are taking heart from a range of market signals pointing to an upbeat year for Wall Street, as equities sit on impressive gains despite worries that the Federal Reserve's monetary policy tightening may plunge the economy into a recession.
Much stronger-than-expected U.S. job growth stopped early-year rallies in stocks and bonds dead in their tracks on Friday, forcing Wall Street to recalibrate expectations for how much more hawkish the Federal Reserve will need to be in its fight against inflation.
* U.S. reports blowout job data; unemployment lowest since 1969. * Megapcap earnings reactions: Apple (AAPL) up; Amazon (AMZN), Alphabet slump. * Ford Motor (F) drops on downbeat outlook. By Lewis Krauskopf, Shreyashi Sanyal and Johann M Cherian.
The S&P 500 reached its highest level in five months this week as investors digested another Federal Reserve interest rate hike and a blowout January jobs report.
The dollar jumped on Friday after data showed that U.S. employers added significantly more jobs in January than economists expected, potentially giving the Federal Reserve more leeway to keep hiking interest rates. The Labor Department's closely watched employment report showed that nonfarm payrolls surged by 517,000 jobs last month.
The Federal Reserve is likely to raise interest rates by another 25 basis points at the March policy meeting following a blockbuster U.S. non-farm payrolls report for January, according to Morgan Stanley's latest research note released on Friday.
The Federal Reserve is likely to raise interest rates by another 25 basis points at the March policy meeting following a blockbuster U.S. non-farm payrolls report for January, according to Morgan Stanley's latest research note released on Friday.
San Francisco Federal Reserve Bank President Mary Daly on Friday said the 5.1% policy rate that most Fed policymakers thought as of December would ultimately be needed is a "good indicator" for where policy is going, but the central bank could take rates even higher. "I'm prepared to do more than that, if more is needed," Daly told Fox Business Network.
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