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Stocks rebound modestly after US jobs data: market update
Stocks rebounded modestly on Monday after a selloff driven by weak US jobs data. Markets are focused on upcoming economic indicators as uncertainty grows over the Federal Reserve’s interest rate plans.
Stocks partially recovered on Monday after a selloff triggered by weaker US jobs data raised uncertainty about the Federal Reserve’s next move on interest rates. The Stoxx Europe 600 rose 0.5%, and futures for the S&P 500 and Nasdaq 100 edged higher following Friday’s decline. The 10-year US Treasury yield increased for the first time in five days, while European bonds fell.
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Investors are closely watching economic data, especially Wednesday’s US inflation figures, for clues on the Fed’s rate path. The European Central Bank is also expected to cut its rate on Thursday. September has been volatile for markets, with global growth concerns causing stocks and commodities to slide.
Asian markets continued Friday’s global losses, with Japan’s Nikkei 225 down for a fifth day and China’s CSI 300 Index declining further, raising concerns about the effectiveness of economic policies. Meanwhile, iron ore fell below $90 per ton, and oil prices rebounded from recent lows.
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Editorial Note
This article aggregates publicly available market and broker updates from the source CMS. Verify time-sensitive data directly with official sources before making decisions.
Last update: Sep 09, 2024