Shares of UWM Holdings Corp (NYSE:UWMC) are trading higher Friday morning, as a surprisingly weak August jobs report sent waves across Wall Street, fueling expectations of imminent Federal Reserve interest rate cuts.
What To Know: The U.S. economy added just 22,000 jobs last month, falling drastically short of the 75,000 economists had anticipated. This sharp slowdown in the labor market is seen as a potential signal that the Fed could be forced to cut rates to stimulate the economy, perhaps as early as its September 17 meeting.
