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Breakfast Bites - US Jobs, UK new PM

What does the Labour win mean for UK markets?

Rise and shine everyone.

Today’s focus is the US Jobs Data that’s being released at 8:30 am ET. The consensus estimate is for the Nonfarm Payroll additions to slow from 242k to 189k but, for the unemployment rate to remain at 4%. Average Hourly Earnings are also expected to slow, as a sign of a cooling labor market. A number coming in cooler than expected (i.e., lower jobs; high unemployment) could lead the market to surge because this may mean we get rate cuts sooner, likely September. It, of course, depends on the magnitude of the miss.

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