U.S. stocks fell following the stronger-than-expected monthly U.S. jobs report. as bond yields moved higher on the view that the jobs data strengthens the case for more aggressive tightening from the Federal Reserve.
Stock futures turned lower as the yield on the 10-year Treasury moved to 1.877%. U.S. employers added 467,000 workers in January, more than expected, while the unemployment rate ticked up to 4%. [It was 3.9% in December.]
Oil ticked higher, trading around $92 per barrel – a seven-year-high.
In earnings, Amazon shares moved higher after strong quarterly results. Wall Street had expected EPS of $3.44, but the retailer delivered a staggering $27.75.
Higher inflation is behind a price hike for monthly Prime memberships, which will go from $12.99 to $14.99, and annual memberships will be hiked to $139 from the current $119. The price change will go into effect for new members starting Feb. 18, and existing members will see their fees go up on the date of their next renewal after March 25.
MacDailyNews Note: The unemployment rate edged up to 4.0%, but remained only slightly above the pandemic-era low of 3.9% from December, which had been the lowest since February 2020, and the U.S. labor force participation rate unexpectedly improved to 62.2%, or the greatest level since March 2020, just prior to the COVID-19 disruptions that continue in some parts of the country even today.
U.S. Federal Reserve officials have signaled that it will likely begin raising interest rates at their March policy meeting, with a number of additional rate increases to come over the balance of the year. The Fed also signaled it would eventually begin quantitative tightening, removing nearly $9 trillion in assets currently on the central bank’s balance sheet.
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So thrilled 81,000,000 mostly living people voted for Joe in the most secure election ev-uh!
Even if it were Biden’s fault (it’s not) democracy is worth it!
But good to see you got the numbers correct.
Oh yes! Worth it! As you can see from numerous polls, about 83% of the country is in full agreement with you! More crime. More to fill up the tank. Inflation. Soft on crime. Useless mask mandates. More debt. Afghanistan. Increase taxes. Open borders. Men in the women’s locker room with your wife and daughters. Dementia. More spending. Oh yeah, definitely worth it!
Just little bit simplistic, misinformed, demented and gaslit aren’t you? Apparently you love the idea of future autocratic rule by today’s Republican party. Be careful what you wish for. There’s no panacea for you there fool.
Simplistically stated for woke simpletons like you. EVERYTHING simply put is FACT and noted you did not deny one point, like the rest on the Left you take pleasure in broadly mocking TRUTHS you can’t handle. Then true to Leftist form you DEFLECT to “future autocratic” FANTASY nonsense only a moron could appreciate…
Then its not Trumps fault either, correct?
The President will make comments on this report shortly, but first:
GDP hits 40 yr high
ISIS leader killed
Fantastic January jobs report
Lying GOP media won’t tell you this, traitor-trumpsters…
Might want to re-adjust that tinfoil hat Zaggy…
Now tell us about the Border, Gas, Oil, Food etc etc……
Aw Bill – you believe obvious lies and bonkers conspiracies, ya poor widdle DELUDED snowflake – you’re still upset about losing the election. Douchebag dictator trump lost like the little criminal bitch he is. Since you still love this lying authoritarian fraudster – it makes you a traitor to the constitution and to America. Shame on you, traitor…
Also, stupid: you believe the obvious lies and bonkers conspiracies of GOP propaganda. The border is fine, the inflation of gas, oil and food has nothing to do with Biden. Inflation is happening all over the world. You really think Biden is responsible for inflation in Bangladesh or Burundi, or Germany? Of course not, ffs. Rejecting reality and following only GOP propaganda makes you a deluded treasonous idiot. Follow Reuters news and learn the truth instead of your dumbass NewsMax or Breitbart or whatever your insane alt-right propaganda source is…
Please send Zag the memo that describes the USD as the currency of the WORLD.
Inflate the World’s currency, as did President JoBi, as has never been done and inflation will result. Also, when a product is in demand and the supply is limited (lessened production_not green enough), energy prices will rise. No, it’s not all Joe’s fault, but he diluted the currency to grand levels. Creating cash dilutes the value = inflation.
“The border is fine.” Please consider another angle…your attempt at humor was unsuccessful. Please give a call down to some on the Texas border, primarily a Dem population and hear from their DIRECT experience. Open borders bring significant disruption, uncertainty and insecurity. Do you let anyone in your home?
Yes, still waiting for info on the border, gas and oil prices, food prices, crime rates, drug deaths, etc etc…
So many one stars! You must like more drug deaths, higher crime, higher food, oil and gas prices, no border controls, soft on crime DAs. Keep the one star votes coming!
Can we pick one crisis to discuss at a time? Frankly, none of these issues will ever be magically solved by any president if we have a Congress that refuses to refine legislation.
To the only one that has significantly changed in the last year: Oil prices are volatile again. It was far worse in my day. You apparently didn’t live through the last generation of oil spikes. The US doesn’t need a drop of Putin’s petroleum. Putin overplayed his hand and is helping the US bring back more domestic oil production. You want to play politics over that fact? Really?
Favoring the ISIS killing, but, I assume, you are part of the group that disparaged Trump when he poached Iran’s military “mind?”
I’ll guess you shared the mindset of many that scorned “Trump’s vax” when released, but now scorn those that don’t take it?
Btw, GDP high matches Debt to GDP level NEVER seen in the history of the US. Makes the GDP level kind of lukewarm, imo.
Such a short list considering that DC is controlled by the wacko libs
“GDP hits 40 yr high“ YES and you did not mention 40 year high for INFLATION a tax that hurts everyone with higher prices across a broad spectrum, particularly hurt are the poor and low income workers.
ISIS leader blew himself up. Every president since George Bush has done the same eliminating ISIS bad players, big whoop.
“Fantastic jobs report” you did not mention all the jobs returning from Covid and the 50-year low unemployment rate President Trump achieved.
You’re grasping at positive straws without full context putting it all in perspective, whatever.
But what you did not list is the dozens of negatives under the Biden administration FAR OUTWEIGH three positives not unique to a president.
Also, what you did not say is Biden registering a RECORD low approval rating for a president in less than a year.
Keep the selective blinders on good and tight. Obvious you’ll feel better…🙄
Thanks, Biden. It’s so great to enjoy all of the hardship you’ve inflicted that wasn’t a thing five years ago because your party is more insecure than a pre-teen. Appreciate it. What happened to the days when you sold something to a customer because it was the best choice for the task at hand? Apple is a lost cause by modern tech standards. If their products ever fall short, which they are dangerously close to achieving, they better find something to pray to. Trust me: jobs is spinning in his grave.
Let’s keep stuff in perspective, shall we? For some reason, we didn’t hear everyone here call for Dubya Bush’s head when he crashed the economy and oil companies decided to send prices through the roof:
Regardless of what you think of our recent string of lackluster presidents from both parties, I strongly support Biden’s bold stand to sanction Russian oil. It is the right thing to do. If you were a patriot, you would put national integrity above petty whining about the price of global commodities. Biden’s move just created thousands of domestic oil production jobs, and the usual suspects here don’t even realize it.