U.S. stocks moved lower Friday after August employment figures came in well above forecasts, shifting attention toward the Federal Reserve's next policy decision. The S&P 500 fell 0.16% to 7,735.23, while the Dow Jones Industrial Average declined 0.33% to 53,509.63, and the Nasdaq Composite slipped 0.04%. The economy added 162,000 jobs last month, compared with economists' 56,000 estimate, while the unemployment rate held at 4.1%, matching expectations. The data increased market expectations for a rate increase at the Fed's Sept. 15-16 meeting, with futures pricing a 65% probability versus 55% before the release. Investors may now focus on upcoming inflation figures, as consumer and producer price reports due next week could influence expectations for the Fed's September decision.
Compass IncStrong jobs report raises odds of Fed rate hike, pushing policy rate higher
Strong jobs report raises rate-hike odds, driving bond yields up
