- Stocks in the red ahead of US jobs data
- Markets in relative calm in the preview of the payrolls that can bring noise.
- OPEC+ announcement fails to relieve oil prices.
Following Thursday’s rally, Wall Street’s major index futures are in the red ahead of key US labor market data. The dollar is up slightly and US bond yields are flat.
The focus on labor data
On the last day of the week, the stock markets operate with a majority of losses, which are moderate. In Europe the FTSE MIB falls 0.67%, while the CAC 40 rises 0.05%. London remains closed for the Queen’s platinum jubilee celebration. Dow Jones futures fall 0.45%, those of the S&P 500 down 0.68% and those of NASDAQ they lose 1.09%.
Among the most moving actions is Teslawhich falls 4.75% in the premakert, affected by a report that indicates that Elon Musk he has a bad feeling about the economy and needs to cut jobs. Kohl’s shares rise 7% after a WSJ report of an offer to buy.
In the markets in general, calm routes are seen, with the operators waiting for the US employment report for May Non-farm payrolls are expected to increase by 325,000 and the unemployment rate is expected to fall from 3.6% to 3.5%. Data on activity in the service sector will be released later. The figures may have an impact on the market, cutting calm, which is seen above all in yields on Treasury bonds.
The US 10-year bond remains at 2.92%, and for several sessions they have moved laterally. In Europe, for its part, German bonds do not stop falling and the 10-year rate exceeded 1.25% for the first time since 2014. This is giving support to the EUR/USD, which, although it fell on Friday, retains much of the advance it had It happened in the second half of May.
The dollar is with mixed results in the previous NFP. The DXY rises 0.15%, and remains below 102.00. The cryptocurrencies have lost steam in the last hour, with Bitcoin falling back below $30,000 to $29,700. Gold is trading lower, having failed to hold above $1870, and silver is firmer though it found resistance below $22.50
The events around Petroleum are still relevant. On Thursday the price ended with a strong rebound, even despite the announcement by the Organization of the Petroleum Exporting Countries and its allies to increase production by 648,000 barrels per day. The barrel of WTI falls 0.35% and operates in the area of ​​$116.50.
Technical levels
Source: Fx Street
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