US Stock Market is down after September payroll report posted lower as expected

Stocks slumped and wrapped below the red line as traders and investors mull over the new print from the Labor Department which basically signified weaker than anticipated growth in payrolls.
 
CENTRAL, Hong Kong - Oct. 12, 2021 - PRLog -- The stocks were volatile and choppy throughout the day, which in turn would also be the best way to describe the whole week's trend.

S&P managed to squeeze out gains for the week even with all the volatility present, with majority of the increase thanks to the agreement reached for the debt limit increase. This allowed the government to avoid a default, which caused the stocks to go higher for the past few sessions.

Below are the main movement of the major stocks and yields in the US market, posted as of 4:00 p.m. New York time;
  • NASDAQ Composite Index lost by 0.51% or 74.48 points and wrapped at 14,579.54.
  • The S&P 500 Index went down by 0.19% or 8.34 points closing at 4,391.42.
  • The Dow Jones Industrial Average moved lower with 0.02% or 8.23-point loss, to end at 34.746.71.
  • U.S. 2 Year Treasury yield increased by 0.015 basis points to 0.322.
  • U.S. 5 Year Treasury yield gained 0.040 basis points and now at 1.063.
  • U.S. 10 Year Treasury yield went up by 0.040 basis points closing 1.615.
  • U.S. 30 Year Treasury yield stepped up by 0.040 basis points at 2.168.
After the debt limit issue was resolved, traders focused on the jobs report, only to get a disappointing result for the month of September. Non-farm payrolls alone missed more than 300,000 from the consensus 500,000, which means the increase was only a little short of 200,000.

Commodities apparently are uptrend while global currencies remained mixed.
  • Gold moved up by $1.99 or 0.11% and is now at $1,757.17 per ounce.
  • Silver increased by $0.0805 or 0.36% to $22.671 an ounce.
  • Western Texas Intermediate Crude is currently at $79.355 a barrel gaining 1.34%.
  • Brent Crude closed at $82.39 per barrel after increasing by 0.54%.
  • Euro / USD = +0.00131 (0.11%) = 1.15670
  • USD / Yen = +0.600 (0.54%) = 112.215
  • AUD / USD = -0.0060 (0.08%) = 0.73060
For more latest news in US Stock Market, you may also visit us at Millennium Capital Management (Hong Kong) Limited through our website https://millenniumcapital-ltd.com/ or contact us via email.

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