Co-Chief Investment Strategist Matthew Miskin CFA, focuses on the jobs report and its impact on the market outlook in our weekly #MarketIntelligence. Learn more here: https://bit.ly/4h9NBFJ #JobsReport #MarketOutlook #Economy
Geopolitical risks lifted oil and energy stocks last week. The U.S. jobs market showed resilience with better job openings and gains. The unemployment rate tick down to 4.1% and prior revisions were up 72k. The bond market is no longer pricing in 0.50% rate cuts, instead 0.25% cuts in November and December. This is in-line with the FOMC summary of economic projections. This week we have another key #CPI report to get an update on inflation trends. Then we start Q3 earnings season, analyst estimates are for S&P 500 earnings growth to cool to 3.9% y/y. John Hancock Investment Management