US stocks set to open marginally lower after the stronger US jobs report

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US stocks set to open marginally lower after the stronger US jobs report

The US jobs data came in stronger than expected with non-farm payroll rising 272K versus 185K estimate. The unemployment rate did move higher to 4.0% as a participation rate fell. 

US yields are higher with the 10 year yield now up 12.7 basis points at 4.408%. However, the 10 year yield was up at 4.638% eight trading days ago (on May 29).

The 2-year yield is up 12.5 basis points at 4.838%.. It was as high as 5.002% on May 29.

• Dow Industrial Average was -66 points
• S&P index -13 points
• NASDAQ index -32 points

looking at some of the large-cap stocks

• Nvidia shares are trading down around 1% in premarket trading.
• Apple shares are up 0.06%.
• Meta Platforms shares are up 0.28%
• Amazon, unchanged
• Alphabet +0.12%

The USD is higher. See technicals of the EURUSD, USDJPY and GBPUSD after jobs data by clicking here.

In other markets :

• Crude oil prices are up around $0.24 at $75.79.
• Gold prices are down $-49 or -2.06% at $2326.80
• Silver is down $1.37 or -4.4% at $29.90
• Bitcoin is trading at $71,338 which is near the middle of the range between $71,949 on the top side and $70,615 on the downside.

                This article was written by Greg Michalowski at www.forexlive.com.

Source: US stocks set to open marginally lower after the stronger US jobs report

forexlive.com