U.S. JOB MARKET WEAKENS: Private payrolls increased by just 38,000 in August, missing the 47,000 forecast and slowing from 46,000 in July, according to ADP.
The weaker jobs data could boost expectations for a Fed rate cut — potentially BULLISH for stocks and crypto, while putting pressure on the dollar and Treasury yields.
All eyes now turn to Friday’s jobs report, with nonfarm payrolls expected to rise by 53,000 and unemployment forecast to remain at 4.1%.X | Instagram | YouTube
