Forex
Nasdaq Slips on Strong Jobs Report, Rate Hike Expectations Rise
The Nasdaq Composite index fell by 0.04% on Friday after a stronger-than-expected US jobs report raised expectations of a Federal Reserve rate hike at its September meeting.
US employers added 162,000 jobs in August, exceeding the 56,000 increase expected by economists, according to Reuters.
The unemployment rate remained steady at 4.1%, suggesting that the labor market remains resilient than previously feared.
Market-implied odds of a Federal Reserve rate hike at the September 15-16 meeting rose to about 65%, from 55% before the jobs report, Reuters reported.