When Jobs Bad for the Market
What’s going on with this world? Seems like any kind of news is bad news for the stock market. The employment report came out today, which showed job creation was higher than expected last month. You would think this would be good for the economy, but not to Wall Street, to them this only means that the Federal Reserve will keep raising interest rates. To them increases in interest rate almost always means it will cost companies more money to borrow, which translate into the likelihood of decrease consumer spending.
Total nonfarm employment rose by 207,000 in July to 133.8 million, seasonally adjusted. This followed job gains of 126,000 in May and 166,000 in June (revised).
