Good morning and welcome to Markets Desk, your morning read on what's moving markets and money.
The dollar softened Friday after September's payroll report came in below expectations. Non-farm payrolls and average hourly earnings both missed forecasts, cooling speculation that the Fed moves again this month. That data shift is doing real work in rate markets, and traders are repricing accordingly.
Turning to the labor market more broadly, the era of job-hopping as a salary strategy appears to be closing, particularly for workers under thirty-five. The wage premiums that once rewarded switching employers have largely evaporated, and economists warn that Gen Z workers may carry the earnings consequences of this tighter labor market for decades to come.
And on Wall Street, brokerage names are drawing attention ahead of October earnings. Interactive Brokers reported finishing September with five point five eight million client accounts, a thirty-five percent increase from a year prior. That kind of account growth heading into a reporting period tends to set a constructive tone for the sector.
That's the tape. Markets Desk, signing off the floor.
