Markets Antsy Ahead of Jobless Claims

by devteam January 7th, 2010 | Share

Just one day before the all-important nonfarm payrolls and unemployment numbers, markets are decidedly looking sour this morning after another mixed session yesterday. 

A little more than one hours before the opening bell, Dow futures are off by 28 points to 10,491 and S&P 500 futures are trading 3.75 points lower to 1,129.25.

Commodities are also weaker with WTI Crude oil down 76 cents to $82.42 per barrel, and Spot Gold down $8.85 to $1129.55.

“China’s central bank raised the yield on its 3-month bill auction, triggering some fear over further tightening down the road,” noted Robert Kavcic from BMO before the bell. “As a result, commodity prices are also under pressure with oil, copper and gold all down, while natural gas is bucking the trend, holding steady as temperatures remain cold in much of the Eastern U.S.”

Lastly, with risk off the table the US$ index is stronger this morning. Fears that China will soon start tightening monetary conditions is contributing to greenback strength, as are comments from Japan’s new finance minister, who on the first day of the job mentioned that he would like the yen to weaken “a bit more.”

Key Events Today:

8:30 â€

About the Author


Steven A Feinberg (@CPAsteve) of Appletree Business Services LLC, is a PASBA member accountant located in Londonderry, New Hampshire.

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