Stocks Slip Ahead of U.S. Jobs Data; Dollar Gains: Markets Wrap
July 05, 2019 @ 14:20 UTC
U.S. futures turned lower, European stocks dropped and Treasuries edged down as investors await the key American jobs report. The dollar strengthened and crude oil fell. Futures on the S&P 500, Nasdaq and Dow Jones declined as the Stoxx Europe 600 retreated at the end of a bullish week. The euro slipped after German factory orders came in far weaker than expected.
The American employment report may help to shape expectations for the Fed’s meeting at the end of this month, though it would take a significant rebound to shake the market’s conviction that the central bank is poised to lower rates.
The U.S. jobs report is due Friday and is projected to show non-farm payrolls rose by 160,000 in June, rebounding from 75,000 the month prior.
Futures on the S&P 500 Index fell 0.2% as of 6:15 a.m. New York time, the first retreat in more than a week. The Stoxx Europe 600 Index decreased 0.4%, the biggest dip in almost three weeks. The U.K.’s FTSE 100 Index dipped 0.2%, the largest decrease in more than a week. The MSCI Asia Pacific Index declined 0.1%. The MSCI Emerging Market Index dipped 0.3%.
The Bloomberg Dollar Spot Index gained 0.2%. The euro decreased 0.2% to $1.1263, the weakest in two weeks. The British pound dipped 0.3% to $1.2547, the weakest in more than two weeks.
Gold declined 0.1% to $1,414.30 an ounce. West Texas Intermediate crude fell 0.8% to $56.86 a barrel.