The three key Wall Street indices slipped on Friday as key jobs data came in stronger than expected, heightening speculation the Fed will raise rates later this month.<\/p>\n
S&P 500: -0.4%Dow: -0.5%Nasdaq: -0.3%<\/p>\n
US non-farm payrolls rose by 162,000 jobs last month against a forecast 56,000 gain. July jobs numbers were also revised up to a gain of 21,000 from the previously reported drop of 23,000. The unemployment rate held steady at 4.1%.<\/p>\n
Two-year yields, which are particularly sensitive to changes in monetary policy, led the rise in Treasuries and were last up 4 basis points at 4.37%.<\/p>\n
The yield on 10-year Treasury notes was up nearly 2 basis points\u00a0to about 4.78%.<\/p>\n
“Good news for the economy, but not such good news for those hoping the Fed will sit tight at the 16 September board meeting,” IG Markets Tony Sycamore said.<\/p>\n
Futures traders on the ASX 200 couldn’t decide if it was good or bad news and remained on the fence.<\/p>\n
When the market closed on Saturday morning (AEST), a fall of 1 point, or 0.01%, was priced in.<\/p>\n
The moves were more definitive on the oil markets. The global Brent and US WTI benchmarks rose again as missiles and drones continued to whiz about the Strait of Hormuz.<\/p>\n
Brent futures: +0.8% to $US92.68\/barrelWTI futures: +0.2% to $US91.48\/barrel<\/p>\n
Over the week, Brent rose 8%, while US crude gained 10%.<\/p>\n
Reuters reported US diesel prices hit a record high leading into the weekend.<\/p>\n
The rally in oil prices combined with a much steeper fuel price increase has pushed inflation and government borrowing costs higher around the world and intensified fears that global economic growth might pull back without some relief.<\/p>\n
“All sectors of the economy are affected by diesel,” Rystad Energy chief economist Claudio Galimberti told Reuters.<\/p>\n
Oil prices may well take another step up today after US forces struck and disabled three Iranian oil tankers in response to Iran targeting two US warships with ballistic missiles.<\/p>\n
The barrage was followed by a social media volley from US Admiral Brad Cooper.<\/p>\n
Despite US Treasuries pushing the US dollar higher, the Aussie dollar was relatively unmoved and closed the week at 72.04 US cents, its highest weekly close in four months.<\/p>\n
And gold slipped as the odds of a Fed hike in September shortened.<\/p>\n
Copper posted its 10th consecutive week of gains and moved closer to its record high of $US14,527\/tonne.<\/p>\n
Iron ore also edged higher to just under $US100\/tonne.<\/p>\n
With Reuters<\/p>\n","protected":false},"excerpt":{"rendered":"The three key Wall Street indices slipped on Friday as key jobs data came in stronger than expected,…\n","protected":false},"author":2,"featured_media":882701,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[2001,64,63,166,2009,99,2005,160,2010,2006,2002,1491],"class_list":["post-882700","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-asx","tag-au","tag-australia","tag-australian-dollar","tag-bitcoin","tag-business","tag-dow-jones","tag-live-blog","tag-live-update","tag-nyse","tag-share-market","tag-wall-street"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/882700","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=882700"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/882700\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/882701"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=882700"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=882700"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=882700"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}