Posted 10/6/2023, 10:20:47 AM
Strong Jobs Data Propels Stocks Higher But Also Stokes Rate Hike Fears
- Tech stocks push US benchmarks higher despite rate hike expectations after jobs data
- September nonfarm payrolls surge well ahead of estimates; unemployment steady
- Strong jobs data reinforces view that rates will stay higher for longer, worrying markets
- Global bonds set for 5th straight weekly loss on recession concerns from aggressive hikes
- Traders see 50/50 chance of December rate increase; recession may come in 2024 says BofA
