Analysts: The Fed has room to wait for more data; market reactions to the non-farm payroll report have been mixed.

Seema Shah, an analyst at Principal Asset Management, commented on the US September non-farm payrolls report: Market reactions to the report were mixed. Stocks welcomed the stronger-than-expected job growth, indicating a robust economy; while the bond market focused more on rising unemployment and slowing wage growth, which could keep the possibility of a Fed rate cut in December alive. Today's jobs data is unlikely to incentivize the Fed to cut rates in December. Even so, holding rates steady in December wouldn't be a major mistake. While weak consumer confidence highlights concerns about job security, the labor market, though soft, is by no means in recession, giving the Fed breathing room to act decisively only after gathering sufficiently compelling data. (Jinshi)