Jobs report adds 178k jobs, futures and Bitcoin slip
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- U.S. jobs report showed 178,000 new jobs added in March, surpassing economists' expectations.
- S&P 500 futures slipped to 6,599, down about 0.3% after initially rising on the jobs data.
- Dow futures fell 107 points, about 0.2%, to 46,625 in the same session.
- Nasdaq-100 futures dropped 98 points, roughly 0.4%, to 24,119.
- 10‑year Treasury yields rose 4 basis points to 4.489%, indicating higher bond yields.
- Bitcoin slipped 0.4% to $66,607, reflecting broader market weakness.
- Federal‑funds futures priced a 77.6% chance the Fed will keep rates unchanged in December, up from 76.3% the day before, and a 10.1% chance of a rate hike by year‑end.
Why it matters: The stronger labor market strengthens the case for the Fed to keep rates steady, pushing Treasury yields higher and pulling down equities and Bitcoin, which hurts traders betting on a rate cut while rewarding bond investors who benefit from rising yields.
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