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Powell Can Stick to His First Draft: Traders Assess Jobs Report

Published 09/06/2019, 09:23 AM
Updated 09/06/2019, 01:16 PM
© Reuters.  Powell Can Stick to His First Draft: Traders Assess Jobs Report

(Bloomberg) -- News the U.S. employment picture was decent if less robust than hoped in August kept equity futures elevated as traders saw the report as cementing more stimulus.

The economy added 130,000 jobs, trailing the average estimate, while the unemployment rate held at 3.7% and hourly earnings were higher than forecast. It came out four hours before Federal Reserve Chairman Jerome Powell speaks on monetary policy in Zurich. Here’s how strategists and traders reacted:

  • Dennis DeBusschere, head of portfolio strategy, Evercore ISI.

  • Candice Bangsund, portfolio manager, Fiera Capital.

  • Bruce Bittles, chief investment strategist, Robert W. Baird.
ADP

  • Tony Bedikian, head of global markets, Citizens Bank.

  • JJ Kinahan, chief market strategist, TD Ameritrade.

  • Ilya Feygin, senior strategist, WallachBeth Capital LLC.

  • Marvin Loh, global macro strategist, State Street (NYSE:STT).

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