Last Night's Market Recap
S&P 500 - Heatmap
Overnight – US closed for 4th July Holiday, Key jobs data in focus
In short, nothing happened overnight.
Equity futures were mixed with the DOW +0.7%, S&P500 -0.09% and the Nasdaq -0.21%
The focus is firmly on tonight’s US Non-Farm Payrolls (employment) data with the market expecting another 191k jobs to be added to the economy and the unemployment rate steady at 4.0%
The US has not had a negative jobs number since late 2020, any number below 50k will likely see the market stress about a faltering economy
The U.K.’s center-left Labour Party won a landslide victory in Thursday’s general election, delivering a huge blow to the ruling Conservative Party after 14 years in power.
Bonds
Commodities & FX
The Day Ahead
ASX SPI 7799 (-0.02%)
We are in for another quiet one with the US closed overnight. All markets be it energy, commodities, bonds, FX, equities barely moved
This afternoon is likely to see some selling leading into the US employment data which could be volatile due to thin holiday markets
Company Specific:
- BHP – BHP’s top brass has cut employee incentives around the globe based on failures to hit internal performance targets.