Last Friday’s job report was really the first employment data point that exceeded expectations in what seems like months. 943,000 jobs were added in July with nice upward revisions for the prior two months as well. The unemployment rate also dropped to 5.4% which was much better than the 5.7% the market was expecting.
For the week ahead, let’s see how the market digests this employment report coupled with the inflation data to be released this week. Continued elevated inflation data — plus another hot jobs report next month — and the market may have to start pricing in a sooner announcement from the Federal Reserve concerning the tapering of its bond buying program.
For a more detailed market report head on over to our Insights page. Where there are some of the key economic data points to be released this week. Also, subscribe to our YouTube channel and check out some of our other social media pages.
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