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Yields and the dollar down, gold up after jobs miss

Published 09/01/2017, 08:39 AM
© Reuters.  Yields and the dollar down, gold up after jobs miss
DIA
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SPY
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QQQ
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GLD
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TBT
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UUP
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UDN
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TLT
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  • Alongside the minor miss in the August payrolls number (156K jobs added vs. 180K expected), July's 209K job gain was revised down to 189K, and June's 231K cut to 210K.
  • The unemployment rate unexpectedly ticked up to 4.4% even as the labor force participation rate stayed flat at 62.9%. The broader U-6 unemployment rate was flat at 8.6%. A year ago, it stood at 9.7%.
  • The average workweek slipped 0.1 hour to 34.4 hours. Average hourly earnings were up $0.03 to $26.39; this following a rise of $0.09 in July. On a year-over-year basis, they're up 2.5%.
  • Full report
  • For now, markets are reacting as expected (for a miss): Dollar (UUP, UDN) lower, gold (NYSEARCA:GLD) higher, Treasury yields (TLT, TBT) lower, rate hike odds lower. Stock index futures (SPY, QQQ, DIA) remain modestly in the green.
  • Previously: Payrolls a bit soft; UE rate ticks higher (Sept. 1)
  • Now read: TBT: Put Option Idea For Income, Part 2


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