Stocks Rise As Jobs Report Eases Fed-Hike Worries
Source: Bloomberg Markets โ (cross-verified by 2 outlets โ full list below)
Bloomberg Television brings you the latest news and analysis leading up to the final minutes and seconds before and after the closing bell on Wall Street.
Today's guests are Chris Phelan CEA Chairman, Robert Reich, Former US Labor Secretary, Alex Straton, Morgan Stanley Equity Research Managing Director, Gary Marcus, Robust AI Inc. CEO&Founder, Veronica Willis is an Investment Strategy Analyst, Dr Cecilia Elena Rouse, The President of Brookings Institution, Atsi Sheth, Moodyโs Chief Credit Offi.
Former CEA Chair Cecilia Rouse believes that we may be 'entering a new normal' of the jobs report, with the break even potentially settling in around 50,000. She speaks with Romaine Bostick on Bloomberg's "The Close." (Source: Bloomberg).
โก Effects Interpreter
๐World Economymedium impact
What this means for you
- โถGlobal exchanges tend to sync up quickly when news like this lands.
- โถVolatility can spike briefly as traders price in the uncertainty.
๐๏ธLocal Economylow impact
What this means for you
- โถPrices at your local shops could feel a mild, indirect squeeze from this.
- โถSmall firms on your street might pass costs on cautiously, bit by bit.
๐ฆRates & Bankslow impact
What this means for you
- โถA change in the cost of money, if it comes, will likely arrive gradually.
- โถYour loan or mortgage rate is more likely to drift than to lurch here.
โค๏ธHealthmedium impact
What this means for you
- โถA little perspective usually helps once the initial shock fades.
- โถPublic health messaging can go a long way toward easing collective worry.
๐ทWealthlow impact
What this means for you
- โถYour shares ISA or pension might see a brief gain or dip today.
- โถYour pension provider is likely already factoring this into its models.
๐ Housinglow impact
What this means for you
- โถHousing chains involving multiple buyers can be sensitive to any wider wobble.
- โถAnyone mid-purchase might want to keep an eye on how this unfolds.
๐ Effects for your country
The U.S.'s central bank rate currently stands at 3.75%, so a global rates move like this could feed through to local borrowing costs. The U.S.'s economy is growing at 2.3% with inflation at 3.2%, the backdrop this story's effects play out against locally. Housing-market effects like this are usually felt most where mortgage rates track the U.S.'s own central bank rate closely. With the U.S.'s unemployment at 4.4%, personal-finance effects like this land on a labour market that is currently fairly stable. Health-system effects are harder to localise from economic indicators alone โ the real impact in the U.S. depends more on local healthcare capacity than the figures above.
The UK's central bank rate currently stands at 3.75%, so a global rates move like this could feed through to local borrowing costs. The UK's economy is growing at 0.8% with inflation at 3.2%, the backdrop this story's effects play out against locally. Housing-market effects like this are usually felt most where mortgage rates track the UK's own central bank rate closely. With the UK's unemployment at 5.6%, personal-finance effects like this land on a labour market that is currently fairly stable. Health-system effects are harder to localise from economic indicators alone โ the real impact in the UK depends more on local healthcare capacity than the figures above.
France's central bank rate currently stands at 2%, so a global rates move like this could feed through to local borrowing costs. France's economy is growing at 0.9% with inflation at 1.8%, the backdrop this story's effects play out against locally. Housing-market effects like this are usually felt most where mortgage rates track France's own central bank rate closely. With France's unemployment at 7.9%, personal-finance effects like this land on a labour market that is already under strain. Health-system effects are harder to localise from economic indicators alone โ the real impact in France depends more on local healthcare capacity than the figures above.
Romania's central bank rate currently stands at 6.5%, so a global rates move like this could feed through to local borrowing costs. Romania's economy is growing at 0.7% with inflation at 7.8%, the backdrop this story's effects play out against locally. Housing-market effects like this are usually felt most where mortgage rates track Romania's own central bank rate closely. With Romania's unemployment at 6%, personal-finance effects like this land on a labour market that is currently fairly stable. Health-system effects are harder to localise from economic indicators alone โ the real impact in Romania depends more on local healthcare capacity than the figures above.
The UAE's central bank rate currently stands at 3.65%, so a global rates move like this could feed through to local borrowing costs. The UAE's economy is growing at 3.1% with inflation at 2.5%, the backdrop this story's effects play out against locally. Housing-market effects like this are usually felt most where mortgage rates track the UAE's own central bank rate closely. Health-system effects are harder to localise from economic indicators alone โ the real impact in the UAE depends more on local healthcare capacity than the figures above.