Fed on track for gradual hikes as they move to more neutral policy

US stocks are opening mixed after the mixed jobs report and US/China trade tariffs.

  • S&P is down -1 points
  • Nasdaq is up 10.4 points
  • Dow is down -38 points

The US employment report showed unemployment rate rise to 4.0% but 213K new jobs were added (and +37K revisions). The wages were moderate at 0.2% but below expectations.

US yields are lower by about 1 -2 bps.

  • 2 year 2.540%, down -1 bps
  • 10 year 2. 816%, down -1.2 bps
  • 30 year 2.928%, down -1.5 bps

Gold is down about -$2.00

WTI crude oil futures are down -$0.43 or -0.60% at $72.51