Will jobs strength persist?
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 3 March 2024
⏱️ 6 minutes
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| 0:00.0 | Welcome to Seeking Alpha's Wall Street brunch, our Sunday look ahead to this week's market moving events, |
| 0:11.1 | along with the weekend's top news and analysis. |
| 0:14.0 | Hello, today is Sunday March 3rd and I'm your host Kim Kahn. |
| 0:18.0 | The top story to look out for this week. |
| 0:20.0 | The February jobs report is due on Friday with expectations for payroll's growth to ease back. |
| 0:25.0 | January showed a whopping rise of more than 350,000 non-farm payrolls. |
| 0:30.0 | Economists spec that they rose by 190,000 last month. The unemployment rate is seen |
| 0:34.8 | staying at 3.7%, average hourly earnings are forecast to have risen by 0.2%, down from the |
| 0:40.8 | 0.6% rise seen in the previous month. |
| 0:44.0 | Also on the labor front, January Joltz report is due, |
| 0:47.5 | along with the ADP's measure of private sector employment for February |
| 0:51.0 | and the weekly initial claims figures. The numbers come in a little more |
| 0:54.7 | than a week before the next Federal Reserve meeting. Expectations for the March FOMC meeting |
| 0:59.3 | have whipsawed and the persistently tight labor market has had a lot to do with it. |
| 1:03.0 | Fed funds futures are now pricing in a 95% chance that the Fed keeps rates steady. |
| 1:08.0 | Back in late December, the odds were 90% that a cut was coming. |
| 1:12.0 | Apollo management chief economist Torsten's |
| 1:14.1 | Sloc argues that the Fed won't cut rates until 2025. He notes that the Fed's |
| 1:19.0 | hawkish pivot has given a strong tailwind to growth since December, and the labor market remains tight, |
| 1:24.3 | with jobless claims at low levels, and wage inflation between 4 and 5 percent. |
| 1:28.6 | In addition, underlying measures of trend inflation are going up. |
| 1:31.6 | The market was expecting six rate cuts as |
... |
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