Live Markets: S&P 500 e-minis near flat, pare losses after US payrolls

Elis SA

06/09/2024 14:14

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      S&P 500 e-minis little changed
    

        * 
      STOXX 600 up 0.1%
    

        * 
      Gold, oil futures, bitcoin up; dollar FLAT
    

        * 
      U.S. 10-yr Treasury yield dips to 3.730%
    

  
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    S&P 500 E-MINIS NEAR FLAT, PARE LOSSES AFTER US PAYROLLS
    S&P 500 e-minis  EScv1  were nearly unchanged early Friday
after trimming losses in the wake of the U.S. monthly jobs
report, which showed lower-than-expected job growth but that the
unemployment rate fell in August.
    A drop in the jobless rate to 4.2% in the Labor Department
report suggested an orderly labor market slowdown continued,
which may mean a big interest rate cut from the Federal Reserve
this month is less likely.
    "This labor market is held together by duct tape and string.
Could the Fed cut by 50 bps? Yes, but will they? No. They
probably want to start with 25 and retain the option to increase
that to 50 rather than just jump right into a 50," said Brian
Jacobsen, chief economist at Annex Wealth Management in
Menomonee Falls, Wisconsin.
    On Thursday, the ADP National Employment Report showed that
private payrolls increased by 99,000 jobs, the smallest gain
since January 2021, after rising by a downwardly revised 111,000
in July.
    Here is the U.S. premarket snapshot:
 
   
    (Caroline Valetkevitch, Chuck Mikolajczak)
    *****    
   
    FRIDAY'S EARLIER LIVE MARKETS POSTS:
    
    "BINARY" OUTCOME LIKELY FOR JOBS REPORT - CLICK HERE
    
    THE BARNIER EFFECT - CLICK HERE
    
    STOXX 600 FALLS BEFORE PAYROLLS TEST - CLICK HERE
    
    EUROPEAN FUTURES SLIP BEFORE HOTLY ANTICIPATED JOBS REPORT -
CLICK HERE
    
        ALL ABOUT THEM PAYROLLS - CLICK HERE
    

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premarket snapshot    https://tmsnrt.rs/4cYhhSJ
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