US stocks were the big movers today as they nearly retraced all the declines from Thursday to Friday gap after the weaker-than-expected US jobs report. Technically, the NASDAQ index moved away from its 200-hour moving average and closed above its higher 100-hour moving average at 20987.91. The price did fall short of the closing level from Thursday's trade at 21122.45.
For the S&P index. it closed last Thursday at 6339.39. The bloc closing level today was 6329.94. The S&P index also closed just under its 100 hour moving average tomorrow will be a key day for the technical bias in both the S&P and NASDAQ indices.
As far as the foreign exchange market, the major indices mostly within 0.20% of its closing level on Friday. The one exception was the USDCHF which rose by 0.50% (lower CHF).
In the US debt market, yields were lower across the curve as the markets continue to anticipate a rate cut in September, and another one by the end of the year.
2-year yield 3.677%, -2.7 basis points.5 year yield 3.741%, -3.0 basis points10 year yield 4.196%, minus to get for basis points30 year yield 4.793%, -1.4 basis pointsIn other markets:
Crude oil fell $1.11 at $66.22Gold prices rose $11.42 or 0.34% and $3374.09 as it reacts to the lower yields.Silver rose $0.40 or 1.08% to $37.41Bitcoin rose $700 to level of $114,928Factory orders today came in as expected at -4.8%. That comes after a oversized gain of 8.3% last month.
San Francisco Fed President Mary Daly expressed confidence in the Fed's July decision to hold rates steady but signaled discomfort with repeating that stance indefinitely. She noted no signs of persistent inflation or lasting tariff effects but acknowledged the labor market is softening, which could become problematic. Daly emphasized that future policy decisions will be made meeting-by-meeting and that all options remain on the table. While she sees two rate cuts this year as a reasonable recalibration, she also warned the Fed might need to do more than that, depending on how the data evolves. HMMM, does not rule out more than two cuts. So you say there's is a chance?
This article was written by Greg Michalowski at investinglive.com.Hence then, the article about investinglive americas fx news wrap 4 aug us stocks nearly erase the employment tumble was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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