August jobs report, Fed blackout, Broadcom: 3 Things
US stock futures (^DJI, ^IXIC, ^GSPC) are reacting to the August jobs report, which saw 142,000 nonfarm payroll jobs added to the labor market, below economist expectations of 165,000. The unemployment rate was in line with US Bureau of Labor Statistics estimates, falling to 4.2% from 4.3% in July.
The Federal Reserve is digesting August’s labor print as officials enter their “blackout period” ahead of the central bank’s September meeting in two weeks.
Shares of chipmaker Broadcom (AVGO) tumble further as the stock trades in negative territory in extended hours over its disappointing revenue guidance for the fiscal fourth quarter.
For more expert insight and the latest market action, click here to watch this full episode of Morning Brief.
This post was written by Luke Carberry Mogan.
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