Market Condition

CGOO
2022-10-09

U.S. stock index futures fell in pre-market trading on Friday (7th) after data showed that the U.S. labor market was very strong in September, with most sub-data stronger than expected.

U.S. Bureau of Labor Statistics: The change in total nonfarm payrolls in July was revised up by 11,000 to 537,000 from 526,000; the total number of nonfarm payrolls in August was unchanged at 315,000. On a revised basis, employment growth in July and August combined was 11,000 higher than previously reported.

However, the year-on-year decline in average hourly earnings fell from 5.2% to 5.0%, and the monthly rate remained unchanged at 0.3%.

After the data was released, stock index futures plunged, and Dow futures fell below the 30,000-point mark; US dollar index futures jumped, returning to above the 112 mark. After the initial jump, gold confirmed a downward trend and approached the $1,700 mark.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

Leave a comment
19
2