2026-09-07 · Hike Odds Jump, Utilities In, Software Out
A stronger-than-expected jobs report pushed rate-hike odds sharply higher, and money kept rotating out of energy and software into utilities and industrials heading into a heavy data week.
The Signal
Friday's August jobs report beat expectations by roughly three times, pushing the odds of a Federal Reserve rate hike this month sharply higher in a single session. Stocks slipped modestly on the news while volatility stayed low, and bond yields moved up in tandem. Underneath, market-wide buying and selling was close to a dead heat, and most individual stocks remained in constructive…
The skinny
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