U.S. jobless claims hit 10-week high of 211,000

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Go back to U.S. jobless claims hit 10-week high of 211,000

NFP March 2023 Preview: Expectations, importance for Fed, and how to trade the report

March 9, 2023 9:24 AM EST

Fed Chair Jerome Powell initiated a stock selloff earlier this week by saying that the central bank would be ready to pick up the pace of rate hikes if the totality of the data warrants it. The market is now slowly shifting its focus toward the jobs report that is due to be released tomorrow at 8:30 EST (13:30 GMT).

The Fed is looking for a slowdown in hiring before preparing to stop hiking rates. The jobs market is cooling narrative suffered a major blow last month after the BLS data showed the total nonfarm payroll employment increased by 517,000 in... More