All Eyes On NFP

The majority of the stock markets in Europe and Asia were closed yesterday due to the celebration of Labor Day in those countries.

In the United States, in the meantime, a lot of important macroeconomic statistical reports were published, which showed rather different results. The number of primary requests for unemployment benefits in a week, made 344 thousand, which appeared to be worse than predictions of 319 thousand. Personal income in March increased by 0,5% and appeared to be better than the predicted 0,4%. Personal expenses in March also grew by 0,9%, against the expected level of 0,6%.

One of the most important indices in the American economy, the index of economic conditions of ISM in the production sphere, made 54,9 points in April , showing better results than the expected 54,3 points. In general, this data did not help indices make any significant moves, and indices closed the trading day at almost the same levels.

The Dow Jones Industrials Average index lost 0,13% and closed the day on the level of 16558,87 points, the S&P 500 index decreased by 0,01% and reached the level of 1883,68 points, and only the NASDAQ Composite managed to add in value (0,31%) closing the day at the level of 4127,45 points.

Today one more important report will be published, which is closely followed by investors and helps make conclusions about the development of the U.S. economy – the Nonfarm Payrolls report, which is expected to be on the level of 210 thousand, which is higher than the number of last month, 192 thousand. Also, we will see the results on the unemployment rate. In Europe, data on the PMI will be presented on Italy, France, Germany and the Eurozone, as a whole. Also, the unemployment figure in the Eurozone will be presented in the first part of the day.

Commodities are bargaining at the same levels, Brent Oil is up 0,08% at a price of $107,29 per barrel, WTI is down by 0,08% at a price of $98,67 per barrel. Gold and Silver are traded on prices of $1283,09 and $19,00 perr troy ounce and are losing 0,02% and 0,21% accordingly.