Wall Street flat in choppy trade as investors weigh jobs data with rates plan

Published by
Reuters

By David French and Amruta Khandekar (Reuters) – Wall Street was flat on Friday afternoon, although that belied the swings each benchmark had experienced throughout the day as investors sought to comprehend what a robust jobs report would mean for the Federal Reserve’s plans to hike interest rates. The Labor Department’s closely awaited data showed nonfarm payrolls rose by 372,000 jobs in June, higher than the estimated rise of 268,000 jobs, according to a Reuters poll of economists. The report also showed the jobless rate remained near pre-pandemic lows at 3.6% and average hourly earnings ros…

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