Daily Market Snapshot: US Stock Markets Surge on Positive Jobs Data – 8 July 2024

US stock markets pushed even higher on Friday after Non-Farm Payrolls data confirmed a slowing in the job market. The headline figure came in slightly above expectations, but revisions to previous high prints and a rise in the unemployment rate led to increased expectations for Fed rate cuts.

Treasury yields took a good hit as did the dollar as investors solidified bets for the first cut coming at the September meeting. Oil prices dropped as talk of ceasefire in Gaza increased again and Gold rocketed higher on the lower dollar. 

All eyes will be on France for the results of their second round of voting on Monday with traders expecting to see moves in the Euro. There is little else on the event calendar for the day though so smoother trading conditions are expected as we progress through the day. 

Market Change Close 
Dow +0.17% 39,375 
S&P +0.54% 5,567 
Nasdaq +0.90% 18,352 
USD -0.28% 104.87 
US Treasury – 2 Year -8.9 bps 4.604% 
US Treasury – 10 Year -6.9 bps 4.278% 
Oil – Brent -1.02% $86.54 
Oil – WTI -0.9% $83.16 
Gold +1.39% $2,388 

Today’s Events: 

Asian Session 

  • All Day – French Parliamentary Election Results
Recent News
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