Markets:
Gold down $8 to $3550WTI down 71-cents to $63.26S&P 500 up 53 points to 6501US 10-year yields down 4.6 bps to 4.16%USD leads, NZD lagsThe stock market liked what it saw in the economic data on Thursday as a wave of releases painted a picture of an economy that's subdued but not crumbling. Yesterday's Beige Book and JOLTS data triggered some fears of a harder landing but today's numbers -- particularly the ISM services data, highlighted middling growth. That kind of trajectory is a good one for continued rate cuts even if it doesn't mean strong demand. With that, the S&P 500 finished at the highest daily close ever at 6202 and just shy of the intraday record. It was a nice rally given that the index was in negative territory shortly after the open.
The same dynamic helped to lift the US dollar as some fears were allayed. The gains were mostly modest but it was enough to wipe out yesterday's decline in USD/JPY.
Naturally, there is some angst about Friday's non-farm payrolls report but the market wasn't showing a great deal of anxiety.
This article was written by Adam Button at investinglive.com.Hence then, the article about investinglive americas fx news wrap ism services a touch strong adp a touch soft 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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