CNBC Daily Open: January's U.S. jobs reports is stunningly good
the company's earnings report, falling 8%. Though both Apple and Alphabet posted a disappointing fourth quarter too, Alphabet's stock slipped 2%, while Apple's gained 2%.. Wall Street names like Vanguard and BlackRock are exposed to it too.First it was Chevron with a buyback of $75 billion. Next, Meta announced its own $40 billion plan.
Yet markets fell on the news. On Friday, the S&P 500 declined 1.04% to 4,136.48, the Nasdaq Composite lost its red-hot streak and fell 1.59%, and the Dow Jones Industrial Average slipped 0.38%. True, the indexes may have been reacting to earnings: Apple, Alphabet and Amazon, which in combination have a market capitalization of nearly $5 trillion, turned in fourth-quarter results with more misses than hits.
Foremost on investors' minds, however, must surely be how the job report will affect the Federal Reserve's interest rate trajectory. Central bankers have repeatedly emphasized that they're looking at economic data to determine how far to take hikes. The question is: Which set of data are they prioritizing? We know that inflation, consumption and manufacturing figures have fallen in December.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Unemployment Hits New Half-Century Low as Job and Hour Growth Soar in JanuaryThe prior two months’ data was also revised up, bringing the average gain over the last three months to 356,000 jobs.
Read more »
Jim Cramer says strong January jobs report shows the economy can handle more rate hikesJim Cramer gave his thoughts on the January jobs report and what it reveals about the economy.
Read more »
Jim Cramer says strong January jobs report shows the economy can handle more rate hikesCramer gave his take on the January jobs report and what it says about the economy.
Read more »
January jobs report breakdown: Which industries are hiring the most workers?The January jobs report showed that payrolls increased by 517,000 workers last month, faster than expected, as bars and restaurants hired more workers.
Read more »
A surprising burst of U.S. hiring in January: 517,000 jobsAmerica's employers added a robust 517,000 jobs in January, a surprisingly strong gain in the face of the Federal Reserve's aggressive drive to slow growth and tame inflation with higher interest rates.
Read more »
4 key takeaways from the jaw-dropping January jobs report | CNN BusinessAmerica's job market demonstrated its stunning resilience Friday, besting expectations by a factor of nearly three and making all those recession forecasts look pretty silly.
Read more »