Thru the Cycle president John Lonski discusses August jobs report and how 315,000 jobs were added on ‘Maria Bartiromo’s Wall Street.’
Wall Street will pause on Monday to mark the Labor Day holiday.
There will be no trading in stocks as U.S. equity markets will be closed.
U.S. Treasury markets will also be closed, so no trading in bonds.
Stock futures will trade on an abbreviated schedule. They will trade until 1 p.m. ET.
SOLID AUGUST JOBS REPORT LEAVES ANOTHER JUMBO FED RATE HIKE ON THE TABLE
Markets are closed for Labor Day. (AP Photo/Julia Nikhinson, File / AP Newsroom)
Energy and metals will trade until 2:30 p.m. ET.
U.S. stocks reversed all gains on Friday to close lower across the board despite the solid monthly jobs report for August.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 31318.44 | -337.98 | -1.07% |
| SP500 | S&P 500 | 3924.26 | -42.59 | -1.07% |
| I:COMP | NASDAQ COMPOSITE INDEX | 11630.864481 | -154.26 | -1.31% |
Job growth moderated from a torrid pace the previous month, as growing headwinds from higher interest rates, scorching-hot inflation and mounting recession fears took hold.
A "help wanted" sign in a window in Manhattan in New York City. (Spencer Platt/Getty Images / Getty Images)
Employers added 315,000 jobs in August, in line with the 300,000 jobs forecast by Refinitiv economists. That marks the lowest monthly gain since April 2021 and is a major decline from the 526,000 jump recorded in July.
"If there’s one key surprise in these headline numbers, it is that the nation’s unemployment rate ticked up 0.2% to 3.7%, said Mark Hamrick, senior economic analyst at Bankrate.com. "The number of unemployed persons rose by 344,000 to 6 million."
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"Still to come this month, key measures of inflation, which will also help set the table for FOMC members eager to raise interest rates. How much they’ll prescribe this month remains to be seen, but a rate hike is very much on the agenda," added Hamrick.
Traders and financial professionals work at the New York Stock Exchange. (Drew Angerer/Getty Images / Getty Images)
U.S. stocks fell across the board on Wednesday as investors wrap up a losing month.
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For August, the Dow finished down nearly 4.1%, while the S&P and Nasdaq lost 4.2% and 4.6%, respectively. It was the worst August performance since 2015. In commodities, oil dipped over 12% for the month to $96.49 per barrel.
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