Investors pray for loosening US jobs market! | MarketTalk: What’s up today? | Swissquote

Show notes

August ended on a downbeat note for the S&P500 and on an upbeat note for the US dollar as, even though the Federal Reserve’s (Fed) favourite gauge of inflation, PCE, came in line with expectations in July for both the core and headline figures, while the euro-area CPI disappointed due to rising energy prices. The barrel of US crude rallied past $84pb.
Today, all eyes are on the US jobs data (with hope of some loosening) and on final PMI figures.
In China, today’s Caixin PMI showed that it stepped into the expansion zone in August, whereas the Chinese services PMI fell short of expectations and the wave of further bad news got the People’s Bank of China (PBoC) to announce lower payment requirements for first and second-time house buyers, and to encourage lower rates on existing mortgages. But it won’t improve the situation overnight.
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