US jobs report poses first major test for Wall Street this year
Khaleej Times|January 06, 2025
The US stock market faces its first major test of the year this week, with investors counting on the US jobs report to show a stable but not overheated economy that underpins expectations for equity gains in 2025.

Stocks wobbled at the end of December and the start of January, cooling off after a torrid run. The benchmark S&P 500 closed 2024 with a 23 per cent rise and posted its biggest two-year gain since 1997-1998. Prospects for a third straight standout year hinge in part on the strength of the economy, with labor market data among the most important reads into the economy's health. The data could also help clarify the Federal Reserve's interest rate plans after the central bank last month rattled markets by reducing its projected rate cuts for 2025.

"Investors are going to want to see confirmation that labor trends remain solid, which means the economic outlook probably remains firm," said Anthony Saglimbene, chief market strategist at Ameriprise Financial.

"Any kind of data that suggests things are weakening a little bit more than expected I think could create volatility," Saglimbene said.

Investors enter the year generally upbeat about the US economy.

この記事は Khaleej Times の January 06, 2025 版に掲載されています。

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この記事は Khaleej Times の January 06, 2025 版に掲載されています。

7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。

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