"On the face of this the Fed should be hiking rates with these sorts of figures, not cutting rates," Economist James Knightley said.

Today's much-anticipated jobs report ended up coming out much stronger than expected.  A stronger result was all but guaranteed to cause carnage (relative) in the mortgage market and that's definitely what we're seeing.

Stronger-than-expected job growth could reaffirm the market’s expectation the Fed will slow its future rate cuts to a quarter-point each, following a half-point reduction at its September meeting. Softer growth could do the opposite,

Crude prices jumped on worries about worsening tensions in the Middle East, while U.S. stocks pulled back further from their records.

Markets in the U.S. kept sliding from their record highs, closing down Thursday on continued worries that escalating tensions in the Middle East could impact the global energy supply. Europe, too, was down for the same reasons,

Wall Street's main indexes were mixed in volatile trading on Thursday as investors remained cautious ahead of a crucial labor report later in the week and monitored potential escalations in Middle East hostilities.