Global Markets:
- Asian Stock Markets : Nikkei down 0.73%, Shanghai Composite up 0.49% Hang Seng up 0.12% ASX down 0.04%
- Commodities : Gold at $4,326.80 (0.62%) Silver at $62.648 (1.69%), Brent Oil at 83.63 (1.35%), WTI Oil at 78.16 (1.13%)
- Rates : US 10-year yield at 4.683, UK 10-year yield at 4.9491, Germany 10-year yield at 3.1257
News & Data:
- (USD) Unemployment Claims
- 199K to 203k expected
Markets Update:
U.S. stock futures were little changed on Thursday night as investors awaited the closely watched July nonfarm payrolls report for fresh clues on the health of the labor market. S&P 500 futures edged up 0.04%, Nasdaq 100 futures gained 0.3%, while Dow Jones Industrial Average futures slipped 17 points, or 0.03%.
Asian markets traded mostly higher. Japan’s Nikkei 225 rose more than 0.2% and the Topix gained 0.29%. South Korea’s Kospi advanced 0.89%, while the Kosdaq added 0.6%. Australia’s S&P/ASX 200, however, fell 0.45%.
In after-hours trading, Airbnb surged 9% after reporting stronger-than-expected quarterly earnings, while Cloudflare jumped 16% following an upbeat full-year and current-quarter outlook.
Wall Street ended Thursday lower as rising oil prices pressured equities. The Dow dropped more than 460 points, snapping a five-session winning streak. The S&P 500 declined 0.2%, while the Nasdaq Composite slipped 0.1%.
Despite the pullback, investor sentiment remains constructive. Hopes that the Strait of Hormuz could reopen have eased concerns about prolonged energy price pressures and inflation. Technology stocks, particularly semiconductor companies, have continued to outperform, supported by strong earnings and renewed buying interest.
Markets now await Friday’s jobs report, with economists expecting payroll growth of about 83,000 and the unemployment rate to remain at 4.2%. Investors will also watch wage growth and labor force participation for further economic signals. Stocks remain on track for a second consecutive weekly gain.
Upcoming Events:
- 12:30 PM GMT – USD Non-Farm Employment Change
