Strong employment data dampens interest rate cut expectations, say market analysts

ChainCatcher news, according to Golden Ten Data, Steve Sosnick, Chief Strategist at Interactive Brokers, stated that discussions about a retreat in the labor market can now end. Employment data far exceeded expectations, with a significant monthly correction, but the two-month correction was quite small. He pointed out that this is a solid report and said that if one is hoping for an interest rate cut, this report does not increase such hopes at all.