Stock indexes wavered in early trading after new data showed employers added 199,000 jobs in November, more than the 190,000 economists expected. The unemployment rate slipped to 3.7%. Here’s a look at how markets are reacting in chart format.
Stocks were little-changed. The Nasdaq inched lower. Tech stocks had powered the market higher Thursday. The S&P 500 and Dow industrials were modestly higher.
Yields jumped. The benchmark 10-year Treasury yield rose above 4.25%.
Expectations for a March rate cut dropped. Traders in interest rate derivatives see a roughly 50% chance the Fed will cut rates in March for the first time this cycle.
Oil prices advanced. Most-actively traded Brent futures gained to trade above $75, reversing direction after falling for the past six trading sessions.
Japanese stocks fell. The Nikkei 225 declined 1.7% and Japanese government bonds sold off for a second day as expectations of an end to negative interest rates buoyed the yen. Data showed Japan’s economy shrank more than expected in the third quarter.
Global stocks were otherwise subdued, with indexes in Hong Kong and Shanghai relatively calm. The Stoxx Europe 600 crept higher.
More insight tied to the jobs report: