Jon Hill, BMO Capital Markets strategist:
“That the Fed’s not cutting in December was already certain; we’d also make the point that the FOMC isn’t hiking anytime soon until labor market strength bleeds over into sustained above target inflation. We’d argue that the market reaction is somewhat muted, likely due to the myriad of major risk events in the next ten days (FOMC, ECB, U.K. election, tariff deadline... etc). Look for some latent bearishness to linger in the background going into next week as these looming factors make it difficult to push any price action with high conviction, just yet.”
Tony Bedikian, managing director and head of global markets at Citizens Bank:
“This is a blowout number and the U.S. economy continues to be all about the jobs. The unemployment rate is at a 50-year low and wages are increasing. Business owners may be getting more cautious due to trade and political uncertainty and growth may be slow, but consumers keep spending and the punch bowl still seems full.”
--With assistance from Claire Ballentine and Lu Wang.
This article was provided by Bloomberg News.