(Bloomberg) — U.S. futures pushed higher and Treasuries rose after May’s jobs report fell short of estimates.
Contracts on the S&P 500 advanced and the 10-year yield slipped to 1.60% after employers added 559,000 jobs last month, just below the average forecast. Investors are assessing what the report means for the strength of the U.S. economy and the Federal Reserve’s next steps with monetary policy. The dollar fell.
on how much longer officials will keep stimulus in place to support the American economy. The dollar fluctuated.
Contracts on the S&P 500 Index rose modestly and Treasuries were steady after data showed
AMC Entertainment Holdings Inc.’s wild week continued, with the shares declining in pre-market trading after tumbling 18% on Thursday.
With stocks largely tranquil of late, traders are assessing Friday’s data for clues on the Federal Reserve’s next steps with monetary policy. Strong services figures on Thursday highlighted the rapid recovery in business activity, as the world’s largest economy rebounds from the pandemic.
Elsewhere, the Stoxx Europe 600 Index pared an earlier advance to trade modestly higher. Asia shares were mixed, as China’s markets weathered President Joe Biden’s order amending a ban on U.S. investment in Chinese companies. The order named 59 firms with ties to the country’s military or in the surveillance industry, including Huawei Technologies Co.
Crude oil edged up, with prices set for a second weekly advance. Bitcoin fell after a cryptic Elon Musk tweet hinting at a split with the token.
For market commentary, follow the MLIV blog. The question of the day is whether the upcoming U.S. jobs report will shift taper talk.
These are some of the main moves in markets:
Futures on the S&P 500 rose 0.3% as of 8:31 a.m. New York timeFutures on the Nasdaq 100 rose 0.2%Futures on the Dow Jones Industrial Average were little changedThe Stoxx Europe 600 was little changedThe MSCI World index was little changed
The Bloomberg Dollar Spot Index rose 0.1%The euro was little changed at $1.2117The British pound rose 0.2% to $1.4139The Japanese yen rose 0.2% to 110.07 per dollar
The yield on 10-year Treasuries was little changed at 1.62%Germany’s 10-year yield was little changed at -0.19%Britain’s 10-year yield declined one basis point to 0.83%
West Texas Intermediate crude rose 0.3% to $69 a barrelGold futures were little changed
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