US Job Data Today Live: Traders eye all important non farm payrolls data for hints on potential Fed rate cut

US Jobs Data Today Live: Traders brace for the non farm payroll report, which could influence the size of a Federal Reserve rate cut later this month. Last month’s weak payroll data triggered a global equity sell-off, followed by a sharp rebound.

With traders still pricing in over 100 basis points of easing this year, a significant rate cut is on the cards. Given Jerome Powell’s recent focus on the labour market, many in the City believe that the payroll figures will determine whether the Fed opts for a 25 or 50-basis point cut this month.

The US markets on Thursday rebounded from the day’s lows but still closed mostly in the red. The Dow Jones dropped 220 points, having been down more than 400 points at one stage. The S&P 500 finished 0.3% lower, while the Nasdaq outperformed, closing 0.2% higher after giving up most of its earlier gains when the tech-heavy index was up over 1%.