January's U.S. jobs reports was stunningly good
Publishing timestamp: 2023-02-05 19:40:54
Summary
January's US jobs report was much better than expected, with 517000 jobs added and the unemployment rate falling to 3.4%. US stocks fell on the news, as investors worried about the implications for interest rates. Asian-Pacific shares ended mixed, with Adani Enterprises closing 1.38% higher. Amazon's shares fell 8% following their earnings report, while Apple and Alphabet posted disappointing fourth quarter results, with Alphabet's stock slipping 2% and Apple's gaining 2%. Wall Street names like Vanguard and BlackRock are exposed to the damage inflicted to Adani Enterprises by US short-seller Hindenburg Research. Chevron and Meta have announced stock buyback plans, leading to speculation that stock buybacks will become more common in 2023. The Fed is focusing on the labor market, which is "out of balance".
Sentiment: MIXED
Keywords: world markets, interest rates, markets, business news, amazon.com inc, apple inc, jobs, employment figures, united states, technology, alphabet class a,
Source: https://www.cnbc.com/2023/02/06/stock-markets-januarys-us-jobs-reports-is-stunningly-good.html