Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Fed Comments Eyed Ahead Of Jobs Report

By MarketPulse (Craig Erlam)Market OverviewSep 02, 2021 08:07AM ET
www.investing.com/analysis/fed-comments-eyed-ahead-of-jobs-report-200600754
Fed Comments Eyed Ahead Of Jobs Report
By MarketPulse (Craig Erlam)   |  Sep 02, 2021 08:07AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 

Stock markets are treading water once more as we near the end of the week and the highly anticipated US jobs report.

The data we had from the US yesterday suggests markets need to rein in expectations for Friday’s NFP reading, with the ADP report missing by almost half and the ISM manufacturing employment sub-index slipping back into contraction territory. Of course, the ADP is hardly a reliable precursor but that was a huge miss so it’s hard to ignore.

Thankfully, as this may force a more cautious and patient approach from the Fed when it comes to tapering and interest rate hikes, it’s seemingly been welcomed by the markets. That will make tomorrow’s jobs report all the more interesting as a reading at, or above, expectations of 750,000 may be a nasty shock, despite being a healthy sign for the economy.

As for today, jobless claims, factory orders, unit labor costs and nonfarm productivity data will keep us busy. More important may be the commentary coming from Raphael Bostic and Mary Daly, both of whom are due to speak today.

Bostic sits on the more hawkish end of the spectrum and has recently stated that a taper in October would be reasonable if job gains continue on the same path, with asset purchases ending around the end of Q1 next year.

It’s Daly’s comments that may be of more interest, as she sits alongside the centrists on the committee and also has a vote this year. She has previously been relaxed on tapering either late this year or early next, depending on whether they see further progress on the labor market and vaccination rates. Should she move in either direction, the markets could respond.

Bitcoin keeps us on our toes

Bitcoin is back above USD 50,000 once more and pushing for a break above USD 51,000 and back into territory not seen since mid-May. Just as it appeared to be lining up for a correction, Bitcoin did what it does best, the complete opposite. It certainly keeps us on our toes.

It has yet to break above USD 51,000 though so it may still be a little soon to get excited. But it’s certainly looking a lot more promising than it did a couple of days ago. As yet, there’s still not a huge amount of momentum behind it but that can change, especially if it does break USD 51,000 and take off. It could be a very interesting weekend.

Original Post

Fed Comments Eyed Ahead Of Jobs Report
 

Related Articles

Fed Comments Eyed Ahead Of Jobs Report

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (1)
Nick Burns
Nick Burns Sep 02, 2021 8:37AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
bad numbers good numbers not sure how it's important when stonks only go up
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email