US Markets moved lower overnight as the first jobs numbers of the week came in under expectation and odds of a bigger rate cut from the Fed in 2 weeks’ time increased. The JOLTS Job Openings data came in at a three and a half year low prompting fears of a sharper downturn in the US jobs market.
Stocks largely drifted lower after Tuesday’s dive, but treasury yields, and the dollar fell harder. Oil prices ultimately fell in a whippy session where traders evaluated whether OPEC+ will or won’t increase production next month, and Gold bounced off lows again but remained under $2,500 an ounce.
It looks like another busy day ahead for traders with updates due out in all three trading sessions and more key US jobs numbers again in the New York session.
| Market | Change | Close |
| Dow | +0.09% | 40,974 |
| S&P | -0.16% | 5,520 |
| Nasdaq | -0.30% | 17,084 |
| USD | -0.3% | 101.40 |
| US Treasury – 2 Year | -10.5 bps | 3.783% |
| US Treasury – 10 Year | -6.6 bps | 3.767% |
| Oil – Brent | -1.42% | $72.70 |
| Oil – WTI | -1.62% | $69.20 |
| Gold | +0.1% | $2,494.80 |
Today’s Events (AEST):
Asian Session
- 12.00 pm – Australia -Reserve Bank of Australia Governor Michele Bullock Speaks
European Session
- 6.30 pm – UK – Construction PMI Data
US Session
- 10.15 pm – US – ADP Non-Farm Employment Change Data
- 10.30 pm – US – Weekly Unemployment Claims Data
- 12.00 am – US – ISM Services PMI Data
- 1.00 am – US – Crude Oil Inventories Data
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