Thomas Feltmate News Today

How traders and economists are reacting to a big employment report miss

The ASX is set to drop as Wall Street took fright after US economic data revealed “the worst of both worlds” - a slowdown in the economy and inflationary pressure.

Unexpectedly strong labour report has shifted market forecasts of Bank of Canada interest rate moves. What economists are saying

The early read is that a March rate cut is “dead”, perhaps May too, after hiring unexpectedly shifted into a higher gear to start 2024.

One widely-followed, unofficial estimate produced by the Atlanta Fed even has it expanding 5.6% on an annualised basis in the third quarter.

The U.S. economy has been looking so solid lately that Federal Reserve officials will probably need to double their projection for growth in 2023 when they publish an updated outlook

Shares edge lower at open; Wilsons lifts Neuren price target; IGO flags $880m to $980m impairment; Whitehaven expects higher production costs in FY23. Follow here for more.

Traders place greater odds on no further hike in Fed policy rate

Australian shares are set to fall as US CPI data overnight showed inflation cooling but fears over inflationary pressure still haunt investors.

The ‘broadly in line’ data opens the door for at least two more increases of 0.25 of a percentage point in US interest rates.