Powell says August job report is sign of continued strength in labor market


The August jobs report Cisco raise the hopes of investors that there will be an interest rate cut this month right now the Dow is up to hundred sixteen points the nasdaq is gaining eleven the S. and P. is up eight points the wind trust WBBM Chicago index from Bloomberg up about a half percent Donnelly shares leading games now the August jobs report from the labor department showed the economy created a hundred thirty thousand new jobs last month that was fewer than economists expected thirty thousand fewer so that new weakness in job creation according to strategist says to investors that the fed has reason then to raise interest rates this month however investors didn't really get any clues right now from fed chair J. Powell he spoke in Switzerland and stuck to what he has said before that the fed will act appropriately on interest rates that it'll look through short term developments in that any divergence of opinion among policy makers will stem from a murky economic outlook now as for the jobs report he says he chose continued strength in the labor market there was a larger than predicted move upward in average hourly

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