Renewed Rate Hike Worries As Job Vacancies Jump

The JOLTs data for August released on Tuesday showed a more-than-expected rise in job vacancies in the U.S., renewing the focus on the headroom available for the Fed to raise rates further. The rate hike fears triggered a spike in bond yields. The non-farm payrolls data for September, another key job market data is due on Friday.

Wall Street Futures are trading just above the flatline. European benchmarks are trading mixed. Asian stocks too finished with losses.

Dollar Index edged lower. However, bond yields continued to harden as markets priced in the Fed’s aggressive outlook on interest rates. Demand worries overwhelmed supply concerns, dampening crude oil prices. Rising bond yields dragged down gold prices. Cryptocurrencies mostly declined.

Here is a snapshot of the major world markets at this hour.

Stock Indexes:

DJIA (US30) at 33,023.00, up 0.06%
S&P 500 (US500) at 4,229.7, up 0.01%
Germany’s DAX at 15,055.25, down 0.20%
U.K.’s FTSE 100 at 7,469.43, down 0.01%
France’s CAC 40 at 7,004.89, up 0.11%
Euro Stoxx 50 at 4,097.45, up 0.05%
Japan’s Nikkei 225 at 30,535.50, down 2.17%
Australia’s S&P ASX 200 at 6,890.20, down 0.77%
China’s Shanghai Composite at 3,110.48, up 0.10% (Sep 28)
Hong Kong’s Hang Seng at 17,186.00, down 0.52%

Currencies:

EUR/USD at 1.0487, up 0.21%
GBP/USD at 1.2115, up 0.33%
USD/JPY at 148.97, down 0.03%
AUD/USD at 0.6324, up 0.36%
USD/CAD at 1.3697, down 0.08%
Dollar Index at 106.93, down 0.07%

Ten-Year Govt Bond Yields:

U.S. at 4.809%, up 0.19%
Germany at 2.9690%, up 0.44%
France at 3.537%, up 0.38%
U.K. at 4.6705%, up 1.49%
Japan at 0.800%, down 0.68%

Commodities:

Brent Oil Futures (Dec) at $90.40, down 0.57%.
Crude Oil WTI Futures (Nov) at $88.65, down 0.65%.
Gold Futures (Dec) at $1,838.75, down 0.15%.

Cryptocurrencies:

Bitcoin at $27,538.00, down 0.27%
Ethereum at $1,647.38, down 1.08%
BNB at $212.82, down 1.27%
XRP at $0.5298, up 3.94%
Solana (SOL) at $23.57, down 2.13%.

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