Global Markets:
● Asian Stock Markets : Nikkei down 1.01%, Shanghai Composite up 0.31% Hang Seng down 2.83% ASX up 0.60%
● Commodities : Gold at $4,214.51 (0.29%) Silver at $61.550 (0.57%), Brent Oil at 102.28 (-0.04%), WTI Oil at 92.58 (-0.30%)
● Rates : US 10-year yield at 5.252, UK 10-year yield at 5.4022, Germany 10-year yield at 3.5202
News & Data:
● (USD) ISM Manufacturing PMI
54.5 to 54.8 expected
Markets Update:
Stock futures edged higher early Friday as investors awaited the release of September’s closely watched jobs report, which could provide clues about the Federal Reserve’s next policy move.
S&P 500 futures rose 0.26%, while Dow Jones Industrial Average futures gained 125 points, or 0.24%. Nasdaq-100 futures advanced 0.42%.
In regular trading Thursday, the Dow and Nasdaq Composite finished slightly higher, while the S&P 500 gained 0.2% to mark the first trading day of October. Despite the gains, all three major indexes remained on track for weekly declines, with the Dow down 1.7% for the week.
Asia-Pacific markets were mostly lower Friday. Japan’s Nikkei 225 fell 0.95%, South Korea’s Kospi declined 1%, and Hong Kong’s Hang Seng Index dropped 2.48%. Australia’s S&P/ASX 200 gained 0.35%.
Treasury yields briefly surged to multiyear highs before retreating. The 10-year Treasury yield reached 5.344%, its highest level since 2002, while the 30-year yield hit a 24-year high.
Oil prices also climbed following reports that the U.S. was deploying another aircraft carrier strike group to the Middle East. Brent crude rose more than 4% to $102.31 a barrel, while WTI gained 2.7% to $92.87.
Economists expect September payrolls to increase by 84,000, with unemployment holding at 4.1%. Traders currently see a 72% chance the Fed leaves rates unchanged in October.
Upcoming Events:
● 12:30 PM GMT – USD Average Hourly Earnings m/m
