While missing estimates for the month, the US economy was shown to have added 215k new jobs in July. The previous two jobs reports were also revised higher, averaging over 200k for monthly job gains, a trend that has been intact for most of this year and one that is seen as the impetus behind the Fed’s decision to hike rates in September, despite a sluggish inflation report. Traders now expect to see the Federal Reserve hike rates in September, though there is one more jobs report ahead of the decision. The S&P500 was down 1.25% on Friday's as the index briefly tested the lows below 2067.4 before settling to close at 2073.25.
A Slow Day in the Markets after Friday’s Payrolls Report
Daily Analysis - 10/08/2015