Markets News 

October job creation comes in at 128,000, easily topping estimates even with GM auto strike

“The unemployment rate ticked higher to 3.6%, in line with estimates, but remains around the lowest in 50 years” writes Jeff Cox for cnbc.com. Nonfarm payrolls rose by 128,000 in October as the U.S. economy overcame the weight of the GM autoworkers’ strike and created jobs at a pace well above expectations.The loss of jobs came due to the General Motors strike that has since been settled.The pace of average hourly earnings picked up a bit, rising 0.1% to a year-over-year 3% gain, also in line with estimates. Source: cnbc.com

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Markets News 

Asia markets mixed ahead of this week’s US-China trade talks

“Asia markets were mixed on Monday as investors awaited a fresh round of U.S.-China trade negotiations expected to begin later this week” writes Eustance Huang for cnbc.com. Ahead of this week’s trade talks between the world’s two largest economies, there were reports that Chinese officials are growing hesitant to pursue a broad trade deal with the U.S. Principal-level trade negotiations between the United States and China are set to begin on Thursday in Washington.”If the market pricing of rate cuts do increase, it will definitely have a negative impact on…

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Markets News Stocks 

World stocks are drifting as traders await a crucial US jobs report — ‘There’s a lot riding on today’s nonfarm payrolls’

“The nonfarm payrolls number could provide some indication of whether the Federal Reserve will cut interest rates this month to boost the US economy” writes Finanzen Net Gmbh for businessinsider.com. World stocks were treading water on Friday as traders awaited the release of a crucial monthly jobs report.”Shaken by three soft readings this week — the two ISM prints and ADP payrolls — there’s a lot riding on today’s nonfarm payrolls,” Neil Wilson, chief market analyst for Markets.com, said in a morning note.”Markets are now frazzled by fear that what…

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News Stocks 

Stocks in Asia muted ahead of US payrolls report

“Stocks in Asia were relatively muted in Friday afternoon trade as investors await U.S. payrolls data for September, set to be released later stateside” writes Eustance Huang for cnbc.com. Investors await U.S. nonfarm payrolls data for September, expected to be released later on Friday stateside.Meanwhile, manufacturing activity in the U.S. contracted to its worst level in more than a decade, according to a Tuesday report from the ISM. A September private payrolls report also showed a slowing pace of U.S. hiring.In Japan, the Nikkei 225 recovered from an earlier slip…

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Futures News Stocks 

Dow futures trade higher ahead of jobs data

“U.S. stock index futures traded higher on Friday morning as investors looked ahead to nonfarm payroll numbers due later in the day” writes Spriha Srivastava for cnbc.com. ET Dow futures traded 85 points higher, implying a positive open of more than 57 points.Futures on the S&P and Nasdaq also traded higher but pointed to a slightly negative open.China insiders have also hinted that the upcoming trade talks could lead to a “breakthrough.”. Meanwhile, risk sentiment was also helped by upbeat U.S. economic data on Thursday. Source: cnbc.com

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News 

Preview: August tends to be a soft month for non-farm payrolls

“However that’s in contrast to the employment component of the ISM report, which fell to 53.1 from 56.2” reports forexlive.com. The consensus for tomorrow’s report is +160K but the market is likely leaning higher after today’s ADP report showed 195K new jobs. But it probably won’t happen again in this cycle,” he wrote today and also warned that the ISM employment component is a good forward-looking indicator.For the jobs report he forecasts a rise of 180K. “After ADP I’d say the chance of a 200K-plus official payroll reading tomorrow is…

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News 

Job Creation Grinds to a Near-Halt in February; Wages Still on the Rise

“Job growth came to a near halt in February after a blistering start to the year, with nonfarm payrolls increasing by just 20,000 even as the unemployment rate fell to 3.8 percent, the Labor Department reported Friday” writes unknown author for cnbc.com. It was the worst month for job creation since September 2017, when two major hurricanes hit the employment market, offset somewhat by a solid increase in wages. Source: cnbc.com

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Futures News 

Dow futures point to lower open after China’s exports plummet

“U.S. stock index futures were lower Friday morning, amid escalating concerns about a global economic slowdown” writes Sam Meredith for cnbc.com. ET, Dow futures slipped 76 points, indicating a negative open of more than 80 points.Market focus is largely attuned to economic data, after shockingly weak export figures from China exacerbated concerns about a global economic downturn.Stateside, market participants are likely to closely monitor a fresh round of economic data. Source: cnbc.com

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