Stocks Rebound After Selloff As October Hiring Slump Fuels Interest Rate Cut Bets: 10 ETFs To Watch Friday

Quick Summary:

A hiring freeze in October lifted market expectations for a Federal Reserve interest rate cuts, providing relief to U.S.stocks after Thursday's decline.The U.S.economy added only 12,000 jobs in October, 211,000 fewer than in September.

Market pricing now reflects a full probability of a 25-basis-point rate cut at next week's Federal Reserve meeting, with the likelihood of another cut in December surging to 85%, according to the CME FedWatch tool.

Hurricanes, Strikes Knock October Employment Down

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Author / Journalist: Piero Cingari

Category: Technology

Markets: United States

Topics: INTC IWM Equities XLY AMZN Large Cap Employment Stories That Matter MAGS SOXX Federal Reserve Commodities Tech USO Interest Rates Sector ETFs Benzinga ITB US4642876555 ETFs GLD US81369Y4070 Specialty ETFs Macro Economic Events US4642887529 Broad U.S. Equity ETFs Top Stories US4642875235 US91232N1081 US73935A1043 US78463V1070 US0231351067 AMZU IL0010829161 US78462F1030 US4581401001 Econ #s QQQ Jobs Economics SPY

Source Website Secure: Yes (HTTPS)

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Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-01 @ 14:17:21 (3 weeks ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 331 words

Reading Time: 2 minutes read

Sentences: 13 lines

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News ID: 23365049

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