Morning Report 13 Jan 25: Strong US jobs growth sinks Wall Street
Manage episode 460766729 series 3531694
Wall Street slumped following the latest job data, as US employment rose more than expected in December. This unexpected growth has narrowed expectations for interest rate changes, suggesting they may remain on hold for the foreseeable future. US interest rates, meanwhile, reached their highest level since November 2023. In the stock market, tech stocks led the retreat, while energy stocks were largely spared due to rising oil prices. Looking ahead, futures indicate solid selling for the ASX 200 on Monday, which faces additional challenges from underperformance in the Chinese market.
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