US economy adds 162,000 jobs in August, beating market expectations
The US added 162,000 jobs in August, exceeding forecasts and prompting bond traders and federal funds futures to drive down stock markets, increase short-term Treasury yields, and price in potential Federal Reserve interest rate hikes.
- The United States added 162,000 jobs in August.
- Employment growth surpassed analyst expectations, influencing rate hike bets.
- Short-term Treasury yields rose following a stronger-than-expected employment report.
- Markets increased expectations for a Federal Reserve rate hike.
- S&P 500 ended the week flat as expectations for Federal Reserve rate hikes increased.