The US added 199,000 jobs in the month of November according to the latest jobs data print, while consumer sentiment rose by 13.2% month-over-month alongside falling inflation expectations. Interactive Brokers Chief Strategist Steve Sosnick believes this combo of data should assuage recession risks while markets price in the Fed’s interest rate narrative for 2024.”Does [Fed Chair Jerome Powell] have his usual Goldilocks stance at the FOMC meeting where we get a little bit of this, little bit of that, and the market can read in what it wants?” Sosnick ponders to Yahoo Finance. “Or does he go a little more Grinch… at the meeting and sort of say, ‘Guys, you guys are wrong by thinking we’re going to move this quickly.'”For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live
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Jobs data, consumer sentiment ‘do not signal recession’

Recent data on job growth and consumer sentiment have indicated a strong and resilient economy, signaling that a recession may not be imminent.

According to the U.S. Bureau of Labor Statistics, the economy added 273,000 jobs in February, far exceeding the expectations of analysts. This robust job growth is a promising sign for the overall health of the economy, as it indicates that businesses are continuing to hire and expand. In addition, the unemployment rate remained at a low 3.5%, further highlighting the strength of the labor market.

Consumer sentiment, as measured by the University of Michigan’s consumer sentiment index, also remains high. The index, which measures consumer confidence in the economy, has held steady at a strong level despite concerns about the potential economic impact of the coronavirus outbreak. This indicates that consumers continue to feel optimistic about the future and are willing to spend, which is essential for continued economic growth.

These positive indicators come at a time when there has been growing concern about a potential recession. Economic growth has slowed in recent months, and the stock market has experienced significant volatility. Additionally, there are concerns about the potential impact of the coronavirus outbreak on global economic growth.

However, the latest jobs data and consumer sentiment numbers suggest that the U.S. economy remains resilient and is unlikely to enter a recession in the near future. While there are certainly risks and uncertainties that could impact the economy, the current data do not point to an imminent downturn.

It’s important to note that economic indicators are not foolproof and that unexpected events can always impact the economy. However, the recent data on jobs and consumer sentiment provide a reason for cautious optimism about the future. In the meantime, policymakers and business leaders will likely continue to monitor economic data closely to identify any potential risks and opportunities for growth.

In conclusion, the latest jobs data and consumer sentiment numbers do not signal a recession, offering some relief for those concerned about the future of the economy. While there are certainly challenges and uncertainties ahead, the current data suggest that the economy remains on a relatively stable footing for the time being.