“What’s still unclear is whether the level of job creation in the second quarter will sway the Federal Reserve on when to end a massive bond-purchasing program designed to keep U.S. interest rates low,” reports Jeffry Bartash for MarketWatch.
“The central bank has said it would begin to back away from its low-interest rate strategy once it became clear the economy was on an upswing,” he added. “Yet job growth needs to remain at current levels or accelerate and the unemployment rate would have to fall toward 7% to hasten the Fed’s withdrawal, analysts say.”
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Full disclosure: Tom Lydon’s clients own SPY, TLT and GLD.