Fed Hikes to continue with good jobs report. https://www.cnbc.com/2022/10/06/stock-market-futures-open-to-close-news.html
It was a very good jobs report with the unemployment rate going down to 3.5% from 3.7%. So why did the dow drop 600 plus points? Bad new is bad news and good news is bad news. Yikes.
While the data was about as expected, the drop in the unemployment rate is seemingly what the markets are obsessed with because of what it means for the Fed,” said Bleakley Financial chief investment officer Peter Boockvar. “When combined with the low level of initial jobless claims, the pace of firing’s remains muted and this of course gets the Fed all fired up about continuing with its aggressive rate hikes.”