Weak Jobs, Good News: These 10 Rate-Sensitive Stocks Are Soaring Today
A dismal June jobs report turned into a green light for the market’s most rate-sensitive corners on Thursday, as a sharp slowdown in hiring gutted expectations for a Federal Reserve rate hike and sent Treasury yields and the dollar tumbling. The U.S. economy added just 57,000 jobs in June, roughly half the 110,000 economists expected, and the Bureau of Labor Statistics cut a combined 74,000 from the prior two months. The probability of a rate hike at the Fed’s July 29 meeting fell to about 20%, according to the CME FedWatch Tool, unwinding bets that had built up after the central bank’s hawkish June pivot. For assets that live and die by interest rates, that was all the fuel they needed. Here are the names – with a market capitalization greater than $50 billion – leading the charge after the jobs print, according to Pro Movers. Gold And Silver Rip, Miners Do Even Bet...
A dismal June jobs report turned into a green light for the market’s most rate-sensitive corners on Thursday, as a sharp slowdown in hiring gutted expectations for a Federal Reserve rate hike and sent Treasury yields and the dollar tumbling. S. economy added just 57,000 jobs in June, roughly half the 110,000 economists expected, and the Bureau of Labor Statistics cut a combined 74,000 from the prior two months. The probability of a rate hike at the Fed’s July 29 meeting fell to about 20%, according to the CME FedWatch Tool, unwinding bets that had built up after the central bank’s hawkish June pivot.
For assets that live and die by interest rates, that was all the fuel they needed. Here are the names – with a market capitalization greater than $50 billion – leading the charge after the jobs print, according to Pro Movers. S. 73.
80. The rally was even more pronounced among miners, who have operating leverage on metal prices. 4%, both handily outpacing the broad market. 88, and streaming company Wheaton Precious Metals Corp.
37. Chart: Silver And Gold Rally After Weak Jobs Data Long-Duration Growth Gets Its Discount Back High-growth and fintech stocks advanced as fears of an imminent Fed rate hike eased. Robinhood Markets, Inc. 39.
Palantir Technologies Inc. 54, and Adobe Inc. 50. , Ltd.
74. Arm Holdings Inc. 14 and Astera Labs Inc. com