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May’s (better than anticipated) Jobs Report

May’s (better than anticipated) Jobs Report

June 07, 2022
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Last week the stock market held on to most of the strong gains from the current market rally. In the past two weeks the market has somewhat stabilized from the previous months of selling and downward prices.

The May jobs report came in better than expected with the economy adding 390,000 jobs. The U.S. continues to have a healthy job market and thus the fears of a recession may be overblown. Substantial job loss always goes hand in hand with a recession and the economic reports are not showing a deterioration of the job market.

Interest rates and inflation have been and still are the biggest issues facing the economy this year, and this week’s Federal Reserve meeting and inflation reports will most likely move the stock market. The FOMC wraps up it’s two-day meeting on Wednesday and a rate hike of 0.5% is predicted. On Friday the highly anticipated monthly Consumer Price Index (CPI) report, which measures inflation, is released. The combination of the FOMC and CPI will be the biggest stock market influencers over the coming weeks.

Photograph by: Alex Kotliarskyi on Unsplash

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