- S&P -6pts to 1995
- Dow -67pts to 17044
- Nasdaq -13pts to 4579
US 10 year yields 2.49% +2bp
Traders are citing the US rate expectation picture as one that’s driving stock prices lower today and the murmours that they may be raised earlier than expected. almost step for step the US is following what the UK went through when the path of interest rates we’re front and centre. Expect the noise to increase in the periods where Aunty Janet isn’t around to reign them in.
In 10 minutes we have the US JOLTS report and given that it’s for July, when jobs were ticking along nicely, we shouldn’t be looking for anything outside of the box compared to August NFP. We’re expecting 4700 vs 4671 prior.