On Thursday morning, S&P 500 futures edged higher, signaling modest optimism ahead of the September employment report. CNBC reported that the futures slipped up by a few points, while Bloomberg noted that stocks fought back as the jobs data approached, lifting sentiment in the equity market.
Both outlets highlighted that the upcoming payroll figures are expected to show a plateau in hiring after a surge in August, suggesting the labor market is holding steady.
U.S. Treasury yields fell from multi‑year highs, according to Bloomberg and Reuters. Bloomberg said the 2‑year yield slipped after a volatile session, and Reuters added that equities rebounded to close higher as the surge in Treasury yields receded.
The decline in yields reduces pressure on rate‑sensitive stocks and may temper expectations of further aggressive Fed tightening.
Asian shares dropped on Thursday, a move reported by Reuters and echoed by Bloomberg. Reuters described a broad sell‑off after wild swings in bonds and foreign‑exchange markets, while Bloomberg’s market wrap warned that Asian equities were set to fall amid an oil rally and heightened bond focus.
The downturn reflects investor caution ahead of the U.S. Payroll numbers, which could influence global risk appetite.
Gold prices slipped, marking a second consecutive weekly loss, as Reuters noted before the payroll data release. At the same time, oil prices treading water were reported by Reuters, with mixed supply signals keeping the market flat.
Both commodities are reacting to the same macro‑economic uncertainty that is driving equity and bond market movements.
Separately, Reuters announced that Nike plans additional job cuts to improve its turnaround, forecasting a steep revenue decline for the coming period.
The move underscores ongoing challenges in the consumer‑goods sector, even as broader market sentiment remains focused on macro data.
