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2d ago

Stocks Climb as Markets Price Fed Cut Next Week on Weaker Jobs Data

Traders now look to U.S. inflation readings as the final check before the Fed meets.

The exterior of the Marriner S. Eccles Federal Reserve Board Building is seen in Washington, D.C., U.S., June 14, 2022. REUTERS/Sarah Silbiger/File Photo
Specialist traders work inside a booth on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., September 10, 2025. REUTERS/Brendan McDermid
A screen displays the logo and trading information for Oracle Corporation on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., March 30, 2023. REUTERS/Brendan McDermid/File Photo

Overview

  • Market pricing points to a 25-basis-point Federal Reserve cut on Sept. 17 with a small probability of a 50-basis-point move, according to CME FedWatch.
  • The Labor Department said U.S. job growth was overstated by 911,000 in the 12 months through March, signaling softer labor momentum.
  • Global equities advanced, with Europe’s STOXX 600 up about 0.5% after gains in Asia and fresh record closes for the S&P 500 and Nasdaq on Tuesday.
  • Gold hovered near record levels after touching $3,673.95 per ounce, and oil firmed with Brent near $67 and WTI above $63 following Israel’s strike on Hamas leaders in Doha and regional security tensions.
  • A federal judge temporarily blocked President Donald Trump from removing Fed Governor Lisa Cook, introducing an unusual legal challenge to central-bank governance as policy expectations firm.