Investors, traders and speculators pushed interest rates lower and stocks higher after softer-than-expected incoming data suggested there's little if any inflation pressure from the labor market right now. Risk-on momentum held up during a relatively quiet early August trading session, and two of the three main equity indexes made all-time weekly closing highs at its end.
Traders in the federal funds rate futures market took the odds of a rate hike at the September Federal Open Market Committee Meeting (FOMC) from 55% on Thursday to 45% following the release of the July jobs report before the opening bell on Friday.
