Bonds & Stocks
A stronger-than-anticipated increase in US jobs drove stocks and short dated bonds lower, with traders boosting their bets the Federal Reserve will raise rates this month. The S&P 500 fell 0.2%. The yield on 10-year Treasuries was little changed at 4.78%.
Economy
US job growth surged in August and the unemployment rate held steady, suggesting the labor market has more momentum than previously thought. Nonfarm payrolls increased 162,000 last month and July’s job losses were revised away, according to Bureau of Labor Statistics data out Friday.
World
Venezuela is becoming a major testing ground for Donald Trump’s hemispheric ambitions, and emerging as another potential source of rivalry with China. After announcing plans to seize control of more than 65 billion barrels of Venezuela’s crude reserves, the Trump administration made clear that was only the start. Ahead is a campaign to squeeze out China and powers like Russia that the White House has called “malign foreign actors,”