US investors have just seen the latest September jobs report which had a lower than expected headline number showing an increase of 134k new jobs , well below the 180k that was expected. The unemployment rate was better than expected at 3.7% , the lowest since 1969 - 49 years , and the average hourly earnings increased by 0.3% for the month as expected. Positive revisions to the July and August numbers has improved the sentiment in the market.
Futures markets have traded higher and lower but is not showing any real change in trend so we continue to see a strong USD , US bond yields at top of the range and looking to move higher and at present stock indices are looking weak both in the US , Europe and Asia. Trade concerns has reduced even though the main US/China is not resolved and will likely get worse. I think it is the key thing that could impact markets and change sentiment.
Oil prices remain elevated with strong and steady global demand and supply problems in Venezuela , Libya , and Iran if sanctions are imposed. The OPEC and Russia cartel have said that they can replace any reduction in supply but markets remain not convinced
Latest prices are as follows:
Dow Jones 26650 up 30 / S&P500 2904 up 4 / Nasdaq 100 7490 up 2.
EUR 1.1528 up 16 / 1.3078 up 58 / JPY 113.80 stronger by 12 / DXY 95.25 down 16
Gold 1203 up 3.60 / WTI Crude Oil 74.61 up 0.28
US10 3.21% / GE10 0.55% / UK10 1.68%
Daily Chart - Amazon - AMZN - Showing some weakness after reaching record high of 2050 at start of Sept. Still an amazing run with some analysts still thinking it is valued at 3000.