Taken from CNBC’s Daily Open, our international markets newsletter — Subscribe today
Once again, good data seems to have been bad news for markets. U.S. stocks fell overnight, with the Dow snapping a three-day winning streak, following a better-than-expected jobs report for January.
Jobs grew by 130,000 in January, according to the Bureau of Labor Statistics’ January nonfarm payrolls report, which was delayed on account of a partial government shutdown that ended Feb. 3.
The numbers blew past expectations of 55,000 additions by Dow Jones-polled economists, and mark a sharp jump from December’s revised 48,000.
The strong jobs report reduced the likelihood of interest rate cuts by the Federal Reserve, dampening market sentiment.
