(CercleFinance.com) – Futures on the S&P500 (-1.3%) and the Nasdaq-100 (-1.8%) bode well for a clearly sluggish start to the session, while operators are expected to reserve a little welcome warm to the monthly employment report published a little earlier.
The US economy generated 263,000 nonfarm payrolls in September, according to the Labor Department, a number slightly above market expectations, and the jobless rate fell 0.2 points to 3.5%.
Nevertheless, the dynamic of job creations is nonetheless on a downward trend, after 537,000 in July and 315,000 in August, and the rate of participation in the labor force, at 62.3%, remains lower by 1, 1 point to that of February 2020.
However, this series of figures seems, on the whole, to show a relative resilience of the labor market in the United States in the eyes of the operators, enough to reinforce the Fed in its ‘hawkish’ attitude concerning its monetary policy.
‘Several Federal Reserve officials have already set the tone on the need to continue raising interest rates’, Kiplink recalled this morning, pointing to comments to this effect from Lisa Cook on ‘stubbornly and unacceptably high’ inflation. .
In securities news, AMD reported preliminary third-quarter revenue and adjusted gross margin Thursday evening that were significantly lower than previous expectations, due to weaker-than-expected PC demand. .
GM announced that its subsidiary GM Defense has been selected by the Defense Innovation Unit, a division of the United States Department of Defense, to develop a prototype battery to be tested on Pentagon platforms.
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