Last Night's Market Recap
S&P 500 - Heatmap
Overnight – Markets quiet as US enjoys Labor Day Holiday
US stocks were closed overnight as the US enjoyed the “unofficial end of Summer” holiday, Labor Day
Share markets fell slightly on Monday as investors braced for a data-packed week culminating in a U.S. jobs report that could decide whether a rate cut expected this month will be regular or super-sized.
Survey data released on Saturday showed Chinese manufacturing activity sank to a six-month low in August, and data on Monday showed euro zone factories are also still struggling.
Wins for the populist parties in German state elections added a fresh layer of political uncertainty in European markets, while a holiday in the United States and Canada made for thin liquidity.
Also important this week will be U.S. survey data, job openings figures, weekly jobless claims and the Fed’s beige book on current economic conditions.
Bonds
Commodities & FX
The Day Ahead
ASX SPI 8074 (+0.05%)
Investors will likely embrace a rest after a busy earnings season as the public holiday in the US gives us little offshore lead and key economic figures are back-end loaded with Payrolls on Friday
Materials are likely to remain weak on continuing poor data out of China, leaving investors questioning when (or even, if) the PBOC will finally make a stimulus stand.
