Skip to main content

Last chance this week for the Fed before November election? check out the Dow Jones futures

The US jobs report on Friday certainly created a headache for any Doves on the FOMC. That was indeed a blowout payroll number on Friday and certainly one that was not expected by so many analysts. It has come at a time when the Fed is just about to make what might be their final effective policy making decision ahead of the US November election. You see, if the Fed acts to move rates too close to that event they could be accused of political motivation and as much as many on the FOMC might want to support the current US President, the risks of doing that via monetary policy are high. Now some out there disagree with that notion and still believe the Fed will move in September, no matter what. There are doubts about that here, at the same time as keeping an open mind on just about any permutation at the moment. That said, the US markets are certainly not yet buying into any change this week, as witnessed by the bond market falls on Friday. The Dow Jones eventually balked at further highs on Friday too and later closed slightly in the Red. The index handed back a modest 87 points, to close the week at 38,798, which was quite a way below the session high at 39,105. The index future is pricing a lower opening for later today too, currently at around 38,735 
 

Ready to Get Started?

Start here. Join 2.9M Libertex users around the world!