US stocks erased losses after some softening labor data helped cool down this week’s surging Fed rate hike bets. Wall Street is hoping we are about to see a quicker cooling of the labor market, but we probably won't see major positioning until after Friday's NFP report.
Fed Chair Powell seems to have signaled they will accelerate the tightening pace to a half-point rate rise if we get both a hot NFP and inflation reports.
09-03-2023 09:26 GMT
by Edward Moya