Stock Market Update
06-Mar-26 12:05 ET
Policy outlook clouded by rising oil costs, labor market weakness
Dow -558.48
at 47395.15,
Nasdaq -158.66
at 22590.34,
S&P -66.47
at 6766.23
[BRIEFING.COM] The major averages remain firmly lower at midday.
The market has seen a modest increase in its implied rate cut expectations from the Fed after this morning's employment situation report showed a surprise decrease of 92,000 in nonfarm payrolls.
The probability of an at least 25-basis point rate cut at the June FOMC meeting rose to around 50%, up from just 33% yesterday, according to the CME FedWatch tool. However, it is worth noting that the upward pressure on oil prices could complicate the Fed's decision as it balances labor market weakness against inflation concerns.
