Oil Prices Sink To $55, Lowest In Nearly 5 Years: What’s Moving Markets Tuesday?
Wall Street lacked clear direction on Tuesday, as mixed labor market data failed to ignite a fresh wave of risk-on sentiment.
Nonfarm payrolls rose by 64,000 in November, topping expectations of 50,000. However, the unemployment rate climbed to 4.6%, the highest level since September 2021.
• Affirm Holdings shares are climbing with conviction. What’s driving AFRM stock higher?
October figures, delayed by more than two months due to the government shutdown, added further noise. Payrolls fell by 105,000, largely reflecting 157,000 layoffs in the public sector. Private payrolls increased by 52,000.
Expectations for the Federal Reserve’s January rate decision remained broadly unchanged following the release. Fed funds futures continued to price a 25% probability of another 25-basis-point rate cut, in line with pre-data levels.
The Nasdaq 100 edged 0.2% higher to 25,121. The Dow Jones Industrial Average and the S&P 500 posted …
About The Author
