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High-Stakes Jobs Report Has Stock-Market Investors on Edge. Here's Why
Equities could stumble if data dents June rate-cut hopes: strategist. Friday is jobs-report day. That means stakes are high for a stock-market rally that's faltered this week as investors assess the likelihood of rate cuts by the Federal Reserve later this year.Economists surveyed by the Wall Street Journal, on average, look for nonfarm payrolls to show a rise of 200,000 in March, with the unemployment rate expected to tick down from 3.9% to 3.8%. Growth in hourly wages is expected to slow to a year-over-year rate of 4.1% from 4.3% in February.The setup for the stock market heading into the release of the Labor Department's April employment report at 8:30 a.m. Eastern is a bit out of the ordinary, Tom Essaye, founder of Sevens Report Research, said in a Thursday note.While either a "too hot" or "too cold" jobs figure is often sufficient to spark a market selloff, the biggest danger on Friday is firmly tilted toward a stronger-than-expected reading, he said.Stock Market Today: Timing of
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