US August jobs data came in stronger than expected, lifting market odds of a
Federal Reserve rate hike later this month and sending US equity futures lower.
Capital Economics economist Stephen Brown said: “Even the most dovish will
struggle to find a case to keep rates on hold based on the August jobs report.
The large rise in nonfarm payrolls was driven by broad strength in the private,
non–health-care sector, and although labor force participation rebounded sharply
the unemployment rate was unchanged.” S&P 500 futures fell 17.5 points intraday.
