US employment cost Index for Q1 comes in at 1.2% versus 1.0% expected

Prior quarter 0.9% (was expecting 1.0%)Employment cost index for Q1 2024 .2% vs 1.0% expectedWages 1.1% versus 0.9% last monthBenefits 1.1% versus 0.7% last monthThe employment cost index is seen inside the Fed as the highest quality measure of compensation growth. As such this is a more hawkish report. Yield us yields are reacting accordingly with a 2-year yield 5.4 basis points. 5-year yield is up 6.2 basis points and the 10 year yield is up 5.0 basis pointslooking at the US stocks in premarket trading, futures or implying :S&P index is down -22 point. Dow Industrial Average averages down about -143 points and NASDAQ is down -88 points after This article was written by Greg Michalowski at www.forexlive.com.

Apr 30, 2024 - 18:05
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US employment cost Index for Q1 comes in at 1.2% versus 1.0% expected
  • Prior quarter 0.9% (was expecting 1.0%)
  • Employment cost index for Q1 2024 .2% vs 1.0% expected
  • Wages 1.1% versus 0.9% last month
  • Benefits 1.1% versus 0.7% last month

The employment cost index is seen inside the Fed as the highest quality measure of compensation growth. As such this is a more hawkish report. Yield us yields are reacting accordingly with a

  • 2-year yield 5.4 basis points.
  • 5-year yield is up 6.2 basis points and the
  • 10 year yield is up 5.0 basis points

looking at the US stocks in premarket trading, futures or implying :

  • S&P index is down -22 point.
  • Dow Industrial Average averages down about -143 points and
  • NASDAQ is down -88 points after
This article was written by Greg Michalowski at www.forexlive.com.
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