Despite economic headwinds like raised interest rates and inflation, the jobs market remains resilient according to the Employment Situation report. "The labor market is signaling that the Federal Reserve has some work to do. Also, crude oil price is up about 5% and trading around the $93 a barrel level. OPEC+ stated that they will cut production of about 2M barrels, the most since the pandemic. Expect prices at the pump to increase over the weekend," says Ben Lichtenstein. Next week, economic data included CPI, PPI, Retail Sales, Consumer Sentiment, and FOMC minutes.
07 Oct 2022