BlockBeats news, October 4, Cetera Investment Management Chief Investment Officer Gene Goldman said: "The non-agricultural data is amazing. The results are far beyond expectations. The unemployment rate is falling, which shows that the economy is strong. Today's news confirms that the foundation of the economy is solid. I am cautious about the initial trend of the stock market today because the US dollar is strengthening and bond yields are also rising. All the data this week show that the economy is strong. This puts the final nail in the Fed's decision to cut interest rates by only 25 basis points. Another point that the market should pay attention to is that the average hourly wage increased by 0.4% month-on-month, which is enough to push the year-on-year figure to 4%, a 5-month high." ING Bank analyst James Knightley said, "The non-agricultural data is undoubtedly strong, but there are also unfavorable factors. Our basic assumption remains that the US economy can achieve a soft landing, provided that the fundamentals of the US economy are good and respond well to interest rate cuts and a clearer political environment after the election. Nevertheless, we believe that given that households believe that the deterioration of the job market (even if today's data does not confirm this) may lead consumers to spend more cautiously, the risk of slowing economic growth and falling interest rates still exists."
Peter Cardillo, chief market economist at Spartan Capital Securities, said: "The non-farm payrolls were much stronger than expected, and obviously this dispelled concerns that the economy might soon fall into negative growth. It basically tells us that economic activity in the fourth quarter is likely to maintain a steady pace. In fact, hourly wages rose by only 13 cents, which is good news for the Fed. This is a blowout report, so it's a surprise, but I also think it may slow the pace of rate cuts." Karl Schamotta, chief market strategist at Corpay, said: "The non-farm payrolls report is a bombshell by any standard. I think the scenario of the US economy not landing suddenly becomes more credible. This is a report that is beautiful both overall and in its internal details. Over the past three months, job opportunities have continued to increase, the unemployment rate has gradually declined, and the participation rate has remained stable, all of which indicate that this is not a statistical anomaly that may be eliminated in the coming months. So what this ultimately means is that Treasury yields have surged at the front end of the curve, expectations for rate cuts are retreating, and the expectation now is that the Fed will be more cautious in easing policy." (Jinshi)