Miner Company
Strong jobs data roils markets as Fed rate cut case weakens
A stronger-than-expected US labor market report for May calmed fears of an economic slowdown but unsettled financial markets, with Treasury yields surging, the dollar climbing and tech stocks pointing to steep losses. Nonfarm payrolls rose by 172,000 last month, nearly double economists' forecasts of 88,000, while private-sector employers added 120,000 jobs, also beating expectations.
A stronger-than-expected US labor market report for May calmed fears of an economic slowdown but unsettled financial markets, with Treasury yields surging, the dollar climbing and tech stocks pointing to steep losses. Nonfarm payrolls rose by 172,000 last month, nearly double economists' forecasts of 88,000, while private-sector employers added 120,000 jobs, also beating expectations.