The “jobs” report came in 3,000 below the consensus estimate of 318,000 that I posted about last night. So, not “better than expected”, which was feared to ignite more aggressive Fed interest rate increases, but can’t say “worse than expected” because that would stoke recession fears, so “as expected”.
Dow futures rise as August jobs report comes in as expected
Investors were comforted by the highly anticipated jobs report, which showed the economy added 315,000 jobs for the month, just under the Dow Jones estimate for 318,000. Steve Sosnick, chief strategist at Interactive Brokers, called it a “Goldilocks” report.
Surprise, surprise, Ford’s monthly auto sales are down m/m, but “as expected”, so no recession fears.
Ford’s new vehicle sales slow in August, in line with expectations
Ford Motor on Friday said its U.S. sales last month increased double-digits from a year earlier but were off about 4% from the prior month.
Sales of Ford’s profitable F-Series pickups were off 10.7% through August compared with the prior year.
Ford’s sales were in line with analyst expectations.
No interest rate panic. No recession panic. So Mr Market parties on.