Trump reacted to Friday\u2019s disappointing jobs numbers by firing the person in charge of compiling them. He also continued his criticism of the Federal Reserve, which could lower interest rates in order to pump adrenaline into the economy.<\/p>\n
The Fed has instead been keeping rates steady this year, in part because lower rates can send inflation higher, and Trump\u2019s tariffs may be set to increase prices for US households.<\/p>\n
Friday\u2019s stunningly weak jobs report did raise expectations on Wall Street that the Fed will cut interest rates at its next meeting in September. That caused Treasury yields to slump in the bond market, and they eased a bit more on Monday.<\/p>\n
The yield on the 10-year Treasury slipped to 4.19 per cent from 4.23 per cent late Friday.<\/p>\n
\u201cIn our view, if the Fed starts to cut rates at its September meeting, we believe this would be supportive for markets,\u201d according to David Lefkowitz, head of US equities at UBS Global Wealth Management.<\/p>\n
Such hopes, combined with profit reports from big US companies that have largely come in better than expected, could help steady a US stock market that may have been due for some turbulence. Before Friday, the S&P 500 had gone more than a month without a daily swing of 1 per cent, either up or down.<\/p>\n
This upcoming week may feature fewer fireworks following last week\u2019s jobs report and profit updates from some of Wall Street\u2019s most influential companies. This week\u2019s highlights will likely include earnings reports from Disney, McDonald\u2019s and Caterpillar, along with updates on US business activity.<\/p>\n
On Wall Street, American Eagle Outfitters jumped 23.6 per cent after Trump weighed in on the debate surrounding the retailer\u2019s advertisements<\/a>, which highlight actor Sydney Sweeney\u2019s great jeans. Some critics thought the reference to the blonde-haired and blue-eyed actor\u2019s \u201cgreat genes\u201d may be extolling a narrow set of beauty standards. \u201cGo get \u2019em Sydney!\u201d Trump said on his social media network.<\/p>\n Wayfair climbed 12.7 per cent after the retailer of furniture and home decor said accelerating growth helped it make more in profit and revenue during the spring than analysts expected.<\/p>\n