24Business
The jobs report shows that the economy is strong. Why is the stock market falling at all?
Wall Street’s reaction to December’s strong jobs report shows how much bond yields and interest rate expectations are driving the stock market these days.
The Dow fell 600 points or 1.4 percent in Friday trading. The S&P 500 fell 1.3 percent. The Nasdaq Composite slipped 1.3%.
The latest employment report actually painted an optimistic picture of the labor market and easing pressures on wage growth. A strong economy is upbeat for corporate earnings, but market participants are currently focused on bond yields and the fading prospect of a rate cut.
