Dow futures soared more than 100 points ahead of the release of nonfarm payrolls later tonight.
As of 6:04 p.m. Thai time, the Dow Jones futures rose 120 points or 0.34% to 34,911 points.
The market keeps an eye on the non-farm payroll numbers in August. It is expected to slow down from July. This will encourage the US Federal Reserve (Fed) to stop raising interest rates in the current cycle.
Analysts predict that Employment increased by 170,000 in August. from 187,000 positions in July. And the unemployment rate is expected to remain stable at 3.5%.
Atlanta Fed President Rafael Bostic said the Fed may no longer need to raise interest rates.
“I think monetary policy has been properly tightened. We should exercise caution and patience. By allowing such strict policies to continue to influence the economy. Otherwise, we may tighten monetary policy too much. and unnecessarily affecting the economy,” Bostic said.
However, Mr Bostic reiterated that “What I’m saying doesn’t mean that I support the Fed easing monetary policy soon.”
Wall Street will be closed on Monday, Sept. 4 for Labor Day in the United States.
2023-09-01 11:50:04
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