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The market begins the week with a “now what” feeling after so much big news last week, culminating with the results of the French elections yesterday.
To a degree, this pause reflects the end of earnings season and the knowledge there is still lots of work to be done in Washington, DC.
The Fed is going to hike rates, or at least there’s a 90% chance of that, which didn’t change after the release of the Labor Market Conditions Index. With 19 components, the index is supposed to guide the Fed with respect to the employment part of its dual mandate. Today’s release underscores potentially higher jobs growth in the months ahead.
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