US Jobs

The number of available positions decreased to 9.9 mn from a downwardly revised 10.6 million a month earlier, the Labor Department's Job Openings and Labor Turnover Survey, or JOLTS, showed Tuesday

The losses include more than 1,000 positions at a warehouse in Fort Worth

The Committee said that it seeks to achieve maximum employment and inflation at the rate of 2 per cent over the longer run

Weekly jobless claims fall 3,000 to 192,000

The yen weakened to a three-week low of 132.60 per dollar after the report, and was last fetching 132.35, down 0.88%

Applications for US unemployment insurance last week fell slightly, hovering around historically low levels as the labor market holds strong despite a weakening economy

Fed fund futures now show investors believe the most likely outcome for the Fed's February meeting is for a 25-basis point increase

The euro was little changed on the day at $1.0521, and the dollar was up 0.25% against the Japanese yen at 133.70

The MSCI World equity index rose by 0.3%, putting it on the cusp of its first weekly gain in more than a month

The index was on track for a weekly gain of more than 1.8%, its largest since September

The dollar was last up 0.65% against the euro at $1.0536, and up 0.91% against the Japanese yen at 133.81

Global shares mostly rose Thursday following a rally on Wall Street as investors assessed minutes from the Federal Reserve's latest meeting of policymakers and welcomed encouraging data on US jobs. France's CAC 40 lost 0.6 per cent to 6,736.01 in early trading, while Germany's DAX fell 0.4 per cent to 14,438.94. Britain's FTSE 100 edged up 0.1 per cent to 7,595.23. US shares were set to drift higher with Dow futures up 0.3 per cent to 33,389.00. S&P 500 futures rose 0.5 per cent to 33,389.00. Worries over China's economic slowdown were weighing on Asian regional sentiment. Japan's benchmark Nikkei 225 rose 0.4 per cent to finish at 25,820.80. Australia's S&P/ASX 200 edged up nearly 0.1 per cent to 7,063.60. South Korea's Kospi added 0.4 per cent to 2,264.65. Hong Kong's Hang Seng jumped 1.3 per cent to 21,052.17, while the Shanghai Composite gained 1.0 per cent to 3,155.22. India's Sensex declined 1 per cent. Widespread COVID-19 cases in China have added to gloom over a ...

Market focus now turns to the ADP National Employment Report due at 1315 GMT, followed by the U.S. Labor Department's nonfarm payrolls (NFP) data on Friday

Both shed 0.6% but end in green for second straight week; Broader markets play catch-up

US employers added more jobs than expected in October while wages rose firmly, underscoring the resilience of the labor market despite the Federal Reserve's aggressive efforts to cool it down.

In contrast, Friday data showed euro zone business activity contracted last month at the fastest pace since late 2020

America's employers slowed their hiring in August in the face of rising interest rates, high inflation and sluggish consumer spending, all of which have weakened the outlook for the economy. The government reported on Friday that the economy added 315,000 jobs last month, down from 526,000 in July and below the average gain of the previous three months. The unemployment rate rose to 3.7 per cent, from a half-century low of 3.5 per cent in July, as more Americans came off the sidelines to look for jobs and didn't find work immediately. The smaller August gain will likely be welcomed by the Federal Reserve. The Fed is rapidly raising interest rates to try to cool hiring and wage growth, which have been consistently strong. Businesses typically pass the cost of higher wages on to their customers through higher prices, thereby fuelling inflation. Fed officials hope that by raising borrowing costs across the economy, they can reduce inflation from a near-40-year high. Some economists

Jobs were also added in health care and professional and business services

"I still think we're going to navigate through without a recession. But obviously it's going to be very, very tight because risks are very high," Moody's Mark Zandi said

The Labor Department's closely watched employment report on Friday, also expected to show strong wage gains last month