Trade overview: current reports, trends, indices, stock prices, bonds, foreign exchange and commodities and analyst recommendations
08:20
Asian stock markets are trading in a negative trend: the Nikkei index is down by about 0.5%, the Shanghai index is down by 0.2%, and the Kospi is down by about 0.9%. The stock market in Hong Kong is closed following a typhoon in the country.
In the background of the declines are data Household spending in Japan, released today, was weaker than expected. Household expenses increased in July by only 0.1% relative to the corresponding period last year, compared to an expected 1.2%. According to CNBC, the weak data may force the central bank of Japan to raise interest rates, but on Tuesday wage data will be published in the country, which will shed more light on the state of the economy in the country.
Wall Street Closed last night in a mixed trend. The Nasdaq rose 0.2%, the Dow Jones fell 0.6% and the S&P 500 fell 0.4% for the third day in a row.
Data were published yesterday Macro mixed, according to which the number of new jobs in the private market increased by 99 thousand, the lowest figure since 2021 and raises the fear of an economic slowdown, the number of new unemployed, on the other hand, decreased compared to last week. The purchasing managers’ index in the service industries (ISM) rose in August compared to 51.4 in July and a similar rate is expected, still in the territory of expansion (over 50).
Investors are now looking forward to the employment report in the US which will be published at 15:30 (Israel time), and it is expected to give an indication of the pace of interest rate cuts by the Fed in the upcoming decision. If a strong employment report is published, it is likely that the Fed will reduce the interest rate by only 25 basis points. This is, if data is published that indicate a slowdown in the labor market, the chances that the Fed will reduce the interest rate by 50 basis points will increase, and this in light of the fears of a recession.
in the crypto market Rate drops are recorded: Bitcoin is down by about 1% and its price is now at 55.5 thousand dollars per currency; Ethereum has weakened to a similar extent, its price is around $2,380.
the bond US government bonds are trading in a negative trend: ten-year bonds lose 2 points, with a yield of 3.7%; The two-year bonds weaken by about 2 basis points, and the yield stands at about 3.73%.
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