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| Tweet Topic Started: 13 Mar 2018, 04:26 PM (17 Views) | |
| dmt1997325 | 13 Mar 2018, 04:26 PM Post #1 |
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In August, average hourly earnings for all employees on private nonfarm payrolls rose by 8 cents to 25.09 U.S. dollars, also higher than market expectations. The jobs report is the final read on monthly labor conditions before the Federal Reserve makes a decision on interest rates at its next policy meeting in about two weeks. "A below-consensus headline with a big upward revision adds up to economic data good enough to justify a rate hike in two weeks if economic data were all that mattered," said Chris Low, chief economist at FTN Financial, in a note. "We think the FOMC (the Federal Open Market Committee) will elect to raise rates, but they can still talk themselves out of it if they try," he added. Dampening Wall Street sentiment, overseas stock markets also decreased broadly. European shares plunged on Friday, with Germany's benchmark DAX index on the Frankfurt Stock Exchange diving 2.71 percent, as the uncertainty of a rate hike by the U.S. central bank weighed on market. 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8:52 AM Jul 11