Live Markets: Jobs hurdle

Swiss Life Holding AG

03/09/2024 11:13

* 
      STOXX 600 down 0.3%
    

        * 
      Miners, energy lag
    

        * 
      Wall Street futures lower
    

  
Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You
can share your thoughts with us at 
    
    JOBS HURDLE
    A strong U.S. jobs number and a fall in the unemployment rate could support equity market
valuations and spark gains in those sectors that have lagged the broader market, Morgan
Stanley's Michael Wilson said.
    Market focus is squarely on Friday's payrolls data, after a surprisingly weak July report
led to fears of a potential recession and sparked a big selloff in stocks early last month.
    Economists polled by Reuters expect U.S. nonfarm payrolls to have increased by 160,000 in
August and unemployment rate to have eased slightly to 4.2%. Morgan Stanley expects payrolls to
have risen by 185,000.
    "A stronger-than-expected payroll number and lower unemployment rate would likely provide
markets with greater confidence that growth risks have subsided," Wilson said.
    He added that while stock markets have rallied back to near all-time highs following
stronger-than-expected data since then, bond markets, the Japanese yen and commodities have
reflected concerns that the "coast might not be clear."
    Wilson however warned that another weak report could rekindle growth fears and put stocks
under pressure, like last month.
    
    (Sruthi Shankar)
    *****
    
    FOR TUESDAY'S OTHER LIVE MARKETS POSTS
    FRENCH EQUITIES LACKING LONG-TERM VISIBILITY CLICK HERE 
    GERMAN STOCKS AT ALL-TIME HIGHS, ROLLS-ROYCE REBOUNDS CLICK HERE
    EUROPEAN STOCKS SET TO CREEP HIGHER CLICK HERE
    ISM KICKS OFF THE DOLLAR'S BIG WEEK CLICK HERE
    

    <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
US dollar slumps to 13-month low as Fed signals rate cut    https://reut.rs/3MmUIw9
French stocks suffering from government uncertainty    https://reut.rs/3Tezc0e
    ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>