The Breakfast Briefing: Dow Futures Trade Higher Ahead Of Jobs Data

Ted

FYI: U.S. stock index futures traded higher on Friday morning as investors looked ahead to nonfarm payroll numbers due later in the day.

At 03:33 a.m. ET Dow futures traded 85 points higher, implying a positive open of more than 57 points. Futures on the S&P and Nasdaq also traded higher but pointed to a slightly negative open.

• Asian markets higher, Europe flat

• Treasury yields rise

• Telenor down almost 6%

Global stocks wavered ahead of the U.S. jobs report for August that will be carefully watched for clues about the health of the world’s largest economy.

The Stoxx Europe 600 bounced between small gains and losses in opening trade, with the German DAX up 0.2% and the U.K.’s FTSE 100 mildly lower.

The weaker trade in Europe came after Germany on Friday said its industrial production unexpectedly fell in July.

U.K. stocks continued to lag behind their regional peers as political turmoil gripped Parliament amid a lack of clarity around the next steps in the Brexit drama. The British pound slipped 0.2% against the dollar.

Trading was stronger in Asia, where the Shanghai Composite, Japan’s Nikkei and Hong Kong’s Hang Seng Index were all up 0.5%.

Among the biggest gainers in Europe was Danske Bank , the Danish lender, which reshuffled its management this week as a money-laundering scandal continued to weigh on the company. Its shares were up 1.7% in morning trading.

Meanwhile, Telenor’s shares dropped 5.1% after the Norwegian telecoms giant said it had ended talks to merge its Asian business with Axiata Group Berhad . Axiata shares gained 2.3%.

Federal Reserve Chairman Jerome Powell will make a speech in Zurich later in the day, which could provide further signals about future monetary policy.

The price of oil remained steady even as Iran said it would abandon constraints on nuclear research set out in the 2015 nuclear deal, ratcheting up tensions with the U.S., which have led to conflict in the Strait of Hormuz. Brent crude was flat on Monday at $60.92 a barrel.

Regards,
Ted
MarketWatch:
https://www.marketwatch.com/story/dow-poised-to-notch-3rd-straight-gain-as-fridays-crucial-jobs-report-looms-2019-09-06/print

WSJ:
https://www.wsj.com/articles/global-stocks-waver-ahead-of-jobs-report-11567757633

Bloomberg:
https://www.bloomberg.com/news/articles/2019-09-05/asia-stocks-seen-higher-bonds-slide-on-u-s-data-markets-wrap

IBD:
https://www.investors.com/market-trend/stock-market-today/dow-jones-futures-stock-market-video-lululemon-crowdstrike-zoom-video/

CNBC::
https://www.cnbc.com/2019/09/06/stock-market-us-stock-market-focus-on-nonfarm-payrolls.html

Reuters:
https://www.reuters.com/article/us-usa-economy/slower-u-s-job-growth-expected-but-enough-to-support-economy-idUSKCN1VR0BD

U.K.
https://uk.reuters.com/article/uk-britain-stocks/ftse-100-slips-as-oil-majors-diageo-stumble-idUKKCN1VR0TC

Europe:
https://www.reuters.com/article/europe-stocks/european-stocks-flat-ahead-of-u-s-payrolls-idUSL3N25X1QZ

Asia:
https://www.marketwatch.com/story/asian-markets-gain-on-trade-deal-hopes-positive-us-economic-data-2019-09-05/print

Bonds:
https://www.cnbc.com/2019/09/06/treasury-yields-tick-higher-ahead-of-us-jobs-data.html

Currencies:
https://www.cnbc.com/2019/09/06/forex-markets-us-economic-data-in-focus.html

Oil:
https://www.cnbc.com/2019/09/06/oil-prices-edge-higher-set-for-weekly-gain-amid-us-china-trade-optimism.html

Gold:
https://www.cnbc.com/2019/09/06/gold-markets-us-china-trade-talks-us-economic-data-in-focus.html

Cuirrent Futures:
https://finviz.com/futures.ashx