The US economy added just 142,000 nonfarm payrolls in September, missing expectations for a gain of 201,000. In the wake of Friday's disappointing jobs report, Fed-watchers will be very interested to see what the members of the Fed are not thinking.
Following the disappointing US jobs report, the futures market is now implying a 55.5% probability that the first rate hike (since June 2006) will happen in March 2016.
Keep in mind, there are still two months worth of data to field before the Fed's December meeting.
The US consumer purchasing automobiles at the fastest rate in a decade. Indeed, the US consumer has offset the entirety of the economic fallout from the global slowdown. These are encouraging signs amid the disappointing jobs report. Auto sales just shot up to a fresh cycle high of 18.2 million (also the best since 2005). The way Americans spend their money just show how confident they really are.
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