United States job growth accelerated in August and wages reached their largest annual increase in more than nine years.
“The economy is on an adrenalin rush,” says Ryan Sweet, senior economist at Moody’s Analytics in West Chester, Pennsylvania. “Given the amount of fiscal stimulus that the economy is benefiting from, it’s going to take a lot to get it off that high.”
Economists had forecast nonfarm payrolls increasing by 191,000 jobs last month and the unemployment rate falling to 3.8%. Now, analysts say the administration’s $1.5 trillion tax cut package and increased government spending were protecting the economy from the trade tensions.
Analysts also note that the import duties implemented so far have affected only a small portion of the American economy. The United States and China have slapped retaliatory tariffs on a combined $100 billions of products since early July.
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Table of contents
MOST TRADED ASSETS
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- ETFs
-
EUR/USD
1.04
Trade-0.47% -
USD/JPY
154.77
Trade+0.4% -
AUD/USD
0.65
Trade-0.11% -
GBP/JPY
193.93
Trade-0.03% -
GBP/USD
1.25
Trade-0.43%
-
Shopify Inc.
106.97
Trade-0.13% -
Tesla, Inc.
352.42
Trade+3.6% -
NVIDIA Corporation
141.89
Trade-2.91% -
Amazon.com, Inc.
197.1
Trade-0.68% -
ThyssenKrupp AG
3.79
Trade-2.37%
-
Gold
2712.05
Trade+1.59% -
Crude Oil WTI
71.11
Trade+1.54% -
Crude Oil Brent
74.65
Trade+1.01% -
Silver
31.31
Trade+1.78% -
Natural Gas
3.27
Trade-7.21%
-
US 100
20789.48
Trade+0.51% -
GER 30
19345.8
Trade+0.82% -
US 500
5974.97
Trade+0.44% -
US 30
44353
Trade+1.09% -
JP 225
38620.5
Trade+1.04%
-
Valkyrie Bitcoin Fund (BRRR)
28.1
Trade+1.68% -
Daily Junior Gold Miners Index
45.06
Trade-0.85% -
20+ Year Treasury Bond ETF
90.39
Trade-0.11% -
S&P 500 ETF
595.51
Trade+0.34% -
Bitwise Bitcoin ETF (BITB)
54.06
Trade+1.68%
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