๐ June payrolls shock: only 57K jobs added vs. 113K expected โ S&P 500 & Nasdaq futures jump
The June nonfarm payrolls report dropped well below forecasts โ just 57,000 jobs added versus the 113,000 expected โ breaking a three-month streak of hot readings. Unemployment came in at 4.2%, slightly better than the 4.3% feared. Markets are cheering the miss as it takes rate-hike pressure off the Fed, with S&P 500 and Nasdaq futures both gaining and the Dow hitting a fresh all-time intraday high. Soft landing or early warning sign of a slowdown โ which camp are you in? Not financial advice.
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