October Jobs Report Blew Past Forecasts, Complicating Fed Rate Cuts
As seen on the 24/7 Wall St. homepage on November 6, 2026.
A labor market adding 165,000 jobs gives the Fed little reason to cut, and rate-cut odds are the thing holding up stretched equity valuations right now.
The US added 165,000 jobs in October, more than double the 70,000 economists expected. Here's what it means for the Fed. Steve Sosnick of Interactive Brokers joins @pras_S on The 8:30. https://t.co/OcHL7zpW11
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The October jobs report landed at 165,000 new positions, far exceeding expectations and leaving the Federal Reserve with far less cover to lower interest rates anytime soon.
Rate-cut expectations have been a key pillar propping up equity valuations, so a labor market this resilient puts that pillar under real pressure. Investors pricing in near-term cuts need to reprice their assumptions quickly.
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Steve Sosnick of Interactive Brokers joined Yahoo Finance's The 8:30 to break down what a number this strong actually means for the Fed's next move, and the conversation is worth watching before markets fully digest the data.
A beat this wide resets the narrative around monetary policy in a hurry. The question now is whether one strong month is enough to push the next cut meaningfully further down the calendar.