US stock futures are bouncing ahead of the release of US jobs data, on signs that the extraordinary spat between President Donald Trump and Elon Musk may cool. Data released earlier this week signaled a softening labor market, which reinforced expectations that the Federal Reserve will cut interest rates at least twice this year. Economists see growth in payrolls decelerating to 125,000 after beating expectations for a second month in April.
“There’s a lot of white noise in the system but the one factor that we have to focus on is the labor market, that’s really what matters,” Gregory Peters, co-chief investment officer at PGIM Fixed Income, told Bloomberg TV. “There’s a bias, if the data comes in softer than expected then I think that’s going to have an outsized reaction versus the opposite.” (Source: Bloomberg)
“There’s a lot of white noise in the system but the one factor that we have to focus on is the labor market, that’s really what matters,” Gregory Peters, co-chief investment officer at PGIM Fixed Income, told Bloomberg TV. “There’s a bias, if the data comes in softer than expected then I think that’s going to have an outsized reaction versus the opposite.” (Source: Bloomberg)
