Traders keep half an eye on CPI as jobs fear outweighs inflation

Published On Sep 9, 2024, 4:52 AM

Traders are shifting their attention from inflation to employment fears as the Federal Reserve plans to cut interest rates, which may increase the risk of recession. The consumer price index (CPI) release on Wednesday is anticipated to have less of an impact due to falling inflation. However, there are concerns about the declining job market, as the latest jobs report showed the lowest payroll growth since mid-2020. Consequently, stock trading remains volatile, with the equity market reflecting heightened caution over macroeconomic indicators instead of inflation data.

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Investors should keep an eye on the stock market's reaction to employment data, as increasing job fears could lead to further market declines. Given the current uncertainty, sectors tied closely to consumer spending and employment may face headwinds if job reports continue to be weak.

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