Monday, September 25, 2023
HomeEconomyJobs Report, Nord Stream Relief, Lululemon and Typhoon - Market Moves

Jobs Report, Nord Stream Relief, Lululemon and Typhoon – Market Moves

By Geoffrey Smith — U.S. economic data for the week culminated with the release of the August jobs report, another solid 300, is expected to be non- Agricultural employment opportunities increased. Durable goods orders are also due. Gas prices in Europe eased as concerns over prolonged shutdowns of key pipelines receded. Stocks opened flat, but Lululemon is set for strong gains after raising its outlook for the year. Oil prices edged higher but were on track for their lowest weekly close in eight months. East Asia is bracing for its most destructive typhoon so far this year. Here’s what you need to know about financial markets on Friday, September 2.

1. Employment Report

United States releases monthly labor market report at30: 16 Eastern Time (12: 16 GMT), at the end of the week in the economy data indicates , at least for now, the economy is far from a recession.

The employment report may verify this with another report 300, Non-farm employment , although more There was a slowdown at the start of the year, but would still be a decent increase in any normal month. Given the hawkish comments from Fed officials last week, it would take a major downside surprise to change market sentiment.

As usual, will also focus on the pace of

Earnings growth is expected to only moderate slightly to 0.4% for the month, implying 5.3% of the current annual return – significantly lower than the current inflation rate . At the same time, the US will also release August durable goods orders data.

2 . Nord Stream Relief

European Gas Prices down as operator of the Nord Stream pipeline that transports natural gas from Russia to Germany, which will resume on Saturday, as Russia Gas monopoly Gazprom (MCX: GAZP).

The news eased concerns that Russia Gazprom will shut down the pipeline longer under the pretext of repairs to force Europe to abandon its support for Ukraine in the ongoing war.

Benchmark Northwest Europe Natural Gas Futures Down 15.2% to a three-week low in euros per MWh 210 However, still 08 times the usual pre-war levels, European industry continues to be at crisis levels.

3. Stocks open mixed; Lululemon surges on strong earnings

U.S. stocks opened mixed on Thursday after another day of sharp losses, extending the The Nasdaq Composite fell for five straight days, even as the Dow and S&P managed to close.


: 06 ET, Dow Jones futures up 26 points, or less than 0.1%, while S&P 500 futures contracts were flat , while NASDAQ 30 futures contracts again It fell 0.1%.

Market participants appear to be largely content to sit back and wait until the payrolls are released, but Bed Bath & Beyond (NASDAQ: BBBY ) appeared to be facing another tough day, down 5.6% premarket, while Lululemon (NASDAQ: LULU ) up nearly 10% over latest Q1

expectations and raised


), which stands for the “unprofitable tech” industry, with meager income.

4. East Asia prepares for typhoon

South Korea stock market falls, won weakened as the country braced for a devastating typhoon, said to be the worst storm to hit it since records began.

Forecast models suggest that Typhoon Xin Nan Nuo will push northward through the East China Sea, disrupting mainland China, Japan and the Korean peninsula. Winds are expected to remain at least Category 3 (approximately 115 mph) until Monday morning with the eye of the storm approaching Nagasaki and Busan.

The storm is expected to bring 10 inches in 48 It rained within hours to Seoul, the capital of South Korea.

5. Oil prices rise as Kremlin warns of price cap plan

Crude oil prices rise, but Crude oil prices will remain lower this week on fears of another slump in Chinese demand, as well as continued pain from a high dollar exchange rate.

Overnight, the Kremlin warned that it would refuse to ship oil to any country. Countries where the United States and Europe plan to impose price caps on their exports. Given the competition for global fuel supplies, these plans already face seemingly insurmountable practical difficulties.

By : 30 ET, U.S. crude futures rose 2.2% to $48. 50 per barrel, while Brent rose 2.1% to 210$.12 a barrel. They remain at their lowest weekly close since January.

Baker Hughes rig count and CFTC location data ends in one week.



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