LIVE MARKETS U.S. stocks poised for modest opening dip after payrolls

  • 1/7/2022
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U.S. equity index futures just modestly red Dec NFP headline jobs number softer-than-expected; wage data hotter Euro STOXX 600 index falls ~0.4% Dollar, gold ~flat; crude up; bitcoin down U.S. 10-Year Treasury yield rises to ~1.76% Jan 7 - Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com U.S. STOCKS POISED FOR MODEST OPENING DIP AFTER PAYROLLS (0900 EST/1400 GMT) U.S. equity index futures are modestly red in the wake of a softer-than-expected December non-farm payrolls print. The headline jobs number came in at 199k vs a 400k estimate. That said, wage data was hotter than expected: NFP01072021SB NFP01072021SB Regarding the numbers, Gennadiy Goldberg, interest rate strategist at TD Securities said, “It’s a bit of a mixed bag really. The headline numbers are quite a bit lower than anticipated, but a lot of the measures of labor market tightness, including wages and the unemployment rate, do suggest that we may be closer to full employment than was previously expected." Goldberg added "I think overall this shouldn’t really detract the Fed from looking to tighten rates early. I think this should keep them quite hawkish, even though this most likely will be a temporary COVID induced disruption and we’ll probably see more of this in the next few months as well." U.S. stock futures are red, with the Nasdaq 100 off the most at around 0.3%. Financials (XLF.P), and energy (.XLE.P) are quoted up in premarket, while tech (XLK.P) is lower. The U.S. 10-Year Treasury yield is attempting to rise for a sixth-straight day, which is something it hasn"t done since January 2021. It"s high so far today of 1.7710%, is just shy of its March 2021 peak at 1.7760%. Here is your premarket snapshot: premarket01072021 premarket01072021 (Terence Gabriel, Karen Brettell) ***** FOR FRIDAY"S LIVE MARKETS" POSTS PRIOR TO 0900 EST/1400 GMT - CLICK HERE: read more

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