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A strong jobs report this week will boost the 'American exceptionalism' trade that's pushed stocks to new highs, BofA says


Published on 2024-12-04 00:01:09 - Thomas Matters
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  • US stocks and the dollar have been on a tear since Trump's election win, and could get another boost if nonfarm payrolls come in higher than expected on Friday.

The article from Business Insider discusses the U.S. stock market's reaction to the November jobs report, which showed a significant addition of 199,000 jobs, surpassing expectations. This robust job growth, coupled with a slight increase in unemployment to 3.7%, has led to mixed signals for investors. The strong employment data suggests a resilient economy, potentially pushing back expectations for Federal Reserve interest rate cuts. However, the rise in unemployment and a decrease in wage growth to 0.4% month-over-month might temper inflation concerns. The article also touches on the impact of these economic indicators on the U.S. dollar, which strengthened against other currencies, and the political landscape, with mentions of former President Trump's influence on market sentiment. Analysts are now debating whether this data will lead to a more hawkish stance from the Fed or if it might signal an economic slowdown, affecting stock market trends into 2024.

Read the Full Business Insider Article at:
[ https://markets.businessinsider.com/news/stocks/stock-market-outlook-november-jobs-report-dollar-trump-interest-rates-2024-12 ]