The Market Brief
Hey team, as traders await the non-farm payroll data for insight into potential Fed rate cuts, geopolitical tensions are keeping markets on edge.
Let’s recap yesterday’s session and look ahead to what’s next for the market.
Impact Snapshot
🟥 ISM Services PMI - 10:00am
Jobless claims rise slightly
Macro Viewpoint
U.S. stock index futures edged lower on Thursday as investors awaited labor data for insights into the economic outlook and the potential for further interest rate cuts from the Federal Reserve, while also monitoring the risk of escalating tensions in the Middle East.
Global equities are heading for their first weekly decline in four weeks as the world watches for Israel's potential response to a missile strike from Iran.
Concerns over a possible Israeli retaliation have overshadowed positive U.S. labor market data released on Wednesday, which under normal circumstances might have boosted investor sentiment.
Geopolitical tensions have reemerged as a key factor influencing markets, which have recently been driven primarily by the U.S. economic cycle.
Meanwhile, traders are preparing for the release of September's payroll report on Friday morning.