$BTC

Urgent: U.S. markets surge strongly after the jobs report

U.S. stock futures are showing a clear rise, with the Nasdaq 100 up by +2% after the September jobs report showed the unemployment rate reaching its highest level since October 2021.

It is noted that Federal Reserve Chairman Jerome Powell has clearly stated that he is monitoring the unemployment rate more closely than the headline jobs number.

๐Ÿ” Why is Powell focusing on unemployment more than the number of jobs?

Because the headline jobs number has become distorted due to significant changes in migration flows, making the jobs reading inaccurate as an economic indicator.

๐Ÿ“‰ Whatโ€™s the result?

Rising unemployment will increase the odds of interest rate cuts in the upcoming period.

Thusโ€ฆ

The bad news for the economy has become good news for stocks.