US Stocks Rise After NFP Falls Short

December 7, 2018 Share Print 0

U.S. stock futures recovered from slight losses to trade flat on Friday after data showed a slowdown in U.S. jobs growth in November, pointing to fewer future rises in interest rates.

The Labor Department’s report showed nonfarm payrolls increased by 155,000 jobs in November, lower than economists’ expectation of 200,000.

“The report is not soft enough to deter a December rate hike but it will contribute to a downward revision in central bankers’ policy guidance for rate hikes in 2019,” said Mohamed El-Erian, chief economic adviser at Allianz in Newport Beach, California.

via Reuters

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.