REE - Wall Street Breakfast: What Moved Markets

Listen on the go! A daily podcast of Wall Street Breakfast's Alpha Talks will be available by 8:00 a.m. on Seeking Alpha, iTunes, Stitcher and Spotify. The stock market closed the week on a relatively risk-off environment even with a much worse-than-expected number of jobs added to the economy. Nonfarm payrolls rose by 235,000 in August to miss the consensus expectation for 720,000 job adds. Delta variant concerns and labor supply issues weighed on the economy during the month. The 10-year Treasury yield gained 28 bps following the report but was still down by ~35bps for the week. The Nasdaq outshined the other major indices this week, up 1.5%. The S&P 500 also closed higher on the week, up 0.6%. Meanwhile, oil prices steadied on Wednesday after OPEC and its allies agreed to stick to their existing policy of gradual oil output increases for an additional 400K barrels of oil

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Wall Street Breakfast: What Moved Markets