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US stocks dipped slightly on Monday as investors await key employment data this week.
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Economists predict about 145,000 new jobs in September, with the unemployment rate steady at 4.2%.
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The Fed’s renewed focus on jobs data could influence future interest rate cuts.
US stocks edged lower on Monday as investors prepare for a wave of employment data this week.
Job openings data on Tuesday, the ADP employment report on Wednesday, initial jobless claims on Thursday, and the September jobs report on Friday are on the docket this week for investors to parse through.
Economists expect about 145,000 jobs added to the economy in September, with the unemployment rate staying flat at 4.2%.
With the Fed shifting its focus from inflation to the jobs market, the employment data could have a sizable impact on the future path of interest rate cuts.
Here’s where US indexes stood at 9:55 a.m. on Monday:
Overseas, investors saw extreme price moves in Asian stock markets on Monday.
The CSI 300 soared 8.5% on Monday in its best day since 2008, after the China government announced various stimulus measures aimed at revitalizing its economy. That’s in addition to a 16% surge in the index last week.
On the flip side, Japan’s stock market, as measured by the Nikkei 225, tumbled about 5% on Monday as investors reacted to its ruling party choosing Shigeru Ishiba as the country’s next Prime Minister.
Here’s what else is going on:
In commodities, bonds, and crypto:
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West Texas Intermediate crude oil was down 0.29% to $67.98 a barrel. Brent crude, the international benchmark, was lower by 0.21% to $71.39 a barrel.
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Gold was down 0.27% to $2,661.30 an ounce.
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The 10-year Treasury yield was higher by 1 basis point at 3.764%.
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Bitcoin was lower by 2.47% to $63,991.
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