A judge of the New York State Supreme
Posted: Thu Feb 13, 2025 5:53 am
Overnight US stocks reversed non-farm payrolls exceeded expectations, unemployment rate unexpectedly dropped, traders no longer bet on the Fed cutting interest rates twice this year
All three major U.S. stock indices closed lower last night. As of the close, the Dow Jones Industrial Average fell 1.63%, the Nasdaq fell 1.63%, and the S&P fell 1.54%. The yield on the 10-year U.S. Treasury bond rose 1.536% to close at 4.761%, 37.8 basis points lower than the yield on the two-year Treasury bond. The VIX index rose 8.14% to 19.54, and Brent crude oil closed up 3.09% to 79.62. Spot gold rose 0.71% yesterday to $2,689.35 an ounce. The US dollar index rose 0.44% yesterday to 109.65.
The number of non-farm payrolls in the United States in December exceeded expectations significantly, and the unemployment rate unexpectedly fell. Traders are no longer betting on the Federal Reserve cutting interest rates twice this year. Court of the United States ruled on the "hush money" case of President-elect Trump, finding Trump guilty of 34 counts in truemoney data the case, but given that he is at an important stage in the presidential power transition process, he was released unconditionally and not given any punishment. The Bank of Japan is reportedly considering raising its core inflation forecasts for fiscal 2024 and 2025. Central bank officials are still carefully reviewing the data ahead of their January meeting.
The U.S. Treasury Department issued new Russia-related sanctions, increasing pressure on Russia through comprehensive energy sanctions. The Yemeni Houthi armed forces issued a statement on the 10th saying that they launched a missile attack on the USS Harry Truman aircraft carrier in the northern Red Sea and launched a drone attack on Tel Aviv, Israel.
Federal Reserve-Musallem: It is recommended to be more cautious in lowering interest rates. Goolsbee: Still, you shouldn't focus too much on any single jobs report. If economic conditions are stable, inflation is not rising, and full employment is achieved, then interest rates should fall.
All three major U.S. stock indices closed lower last night. As of the close, the Dow Jones Industrial Average fell 1.63%, the Nasdaq fell 1.63%, and the S&P fell 1.54%. The yield on the 10-year U.S. Treasury bond rose 1.536% to close at 4.761%, 37.8 basis points lower than the yield on the two-year Treasury bond. The VIX index rose 8.14% to 19.54, and Brent crude oil closed up 3.09% to 79.62. Spot gold rose 0.71% yesterday to $2,689.35 an ounce. The US dollar index rose 0.44% yesterday to 109.65.
The number of non-farm payrolls in the United States in December exceeded expectations significantly, and the unemployment rate unexpectedly fell. Traders are no longer betting on the Federal Reserve cutting interest rates twice this year. Court of the United States ruled on the "hush money" case of President-elect Trump, finding Trump guilty of 34 counts in truemoney data the case, but given that he is at an important stage in the presidential power transition process, he was released unconditionally and not given any punishment. The Bank of Japan is reportedly considering raising its core inflation forecasts for fiscal 2024 and 2025. Central bank officials are still carefully reviewing the data ahead of their January meeting.
The U.S. Treasury Department issued new Russia-related sanctions, increasing pressure on Russia through comprehensive energy sanctions. The Yemeni Houthi armed forces issued a statement on the 10th saying that they launched a missile attack on the USS Harry Truman aircraft carrier in the northern Red Sea and launched a drone attack on Tel Aviv, Israel.
Federal Reserve-Musallem: It is recommended to be more cautious in lowering interest rates. Goolsbee: Still, you shouldn't focus too much on any single jobs report. If economic conditions are stable, inflation is not rising, and full employment is achieved, then interest rates should fall.