"Surprising Jobs Report Sends Shockwaves Through Markets"
TL;DR Summary
The 10-year Treasury yield reached a four-month high as strong job market and service-sector data increased the likelihood of multiple additional Fed rate hikes. Payroll processor ADP estimated that private-sector firms added 497,000 jobs in June, double the predictions. This raised expectations for a strong official jobs report from the Labor Department on Friday. Markets are now pricing in a 95% chance of an additional quarter-point Fed rate hike in July, with increased odds of further hikes in September and November.
- Jobs Report: Friday's Stakes Rise As 10-Year Treasury Yield Bolts Above 4%, S&P 500 Falls | Investor's Business Daily Investor's Business Daily
- Private sector companies added 497000 jobs in June, more than double expectations, ADP says CNBC Television
- Why the ADP Jobs Report Is Rattling Markets The Wall Street Journal
- Shockingly strong jobs numbers from the US on Thursday - Goldman Sachs shrugs them off ForexLive
- The latest on markets: After a day in the red, stocks await key jobs data CNN
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