US Stocks Open Lower as Strong Jobs Report Indicates Potential Fed Rate Path
The US employment numbers came out slightly higher than expected, but this hasn't stopped the Dow from dropping a few hundred dollars in early market trading Friday. Shortly before 10 am ET, the Dow had fallen -248 but appeared to be rebounding somewhat.
May jobs report underlined expectations the Federal Reserve will continue to press ahead with aggressive rate increases as it attempt to rein in inflation, according to Market Watch.
Former Federal Reserve Governor Randy Kroszner, a University of Chicago Booth School economics professor, tells Bloomberg News the May employment report will spur the Fed to raise rates by 50 basis points at least through September. He speaks on "Bloomberg Surveillance."
Current Financials Futures Betting
All Odds and Betting Courtesy of BetOnline
Dow Jones Price June 30th at Close
11:30 PM
Over 32500.5 Points
-120
Under 32500.5 Points
-120
Gallon of Gas US National Avg on June 30th
11:30 PM
$4.50 or Higher
-275
$4.25-$4.49
+265
$4.00-$4.24
+800
$3.75-$3.99
+1800
$3.50-$3.74
+4000
Less than $3.50
+7500
Oil Price (Barrel) June 30th at Close
11:30 PM
Over 106.5 USD
-120
Under 106.5 USD
-120
- Aaron Goldstein, Gambling911.com
