“`html
On August 3, the U.S. Labor Department reported that only 73,000 jobs were added in July, falling short of economists’ expectations of 104,000. Additionally, the revisions for May and June saw a substantial downward adjustment of 258,000 jobs, with June’s payrolls revised down from 147,000 to 14,000 and May’s from 144,000 to 19,000. These reporting issues have sparked significant market reactions, prompting President Trump to announce the firing of Erika McEntarfer, commissioner of the Bureau of Labor Statistics.
In response to the labor data and ongoing trade negotiations, President Trump imposed new tariffs ranging from 15% to 40% on various countries, effective August 10. The market is now pricing in an 80% chance that the Federal Reserve will cut interest rates in September, as Treasury yields have notably dropped, with the 10-year yield falling by more than 14 basis points. The current yield stands at 4.25%.
“`
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
