NFP in Focus

October 3, 2014 – Indices News

U.S. stocks finished with little change as investors waited on the sidelines before today’s labour data. U.S. data was also positive once again with initial jobless claims falling by 8000 to 287,000 during the past week. Volatility was expected following the European Central Bank’s interest rate decision and press conference however rates remained unchanged. Draghi did not provide a lot of new information but stated that the bank will buy assets over the next two years. At session close the S&P 500 was even at 1,946.17 and the Dow Jones was 0.02% lower at 16,801.05.

Asian markets climbed across the region. The Nikkei added 0.3% as the Dollar rebounded against the Yen climbing back to a high of 108.9. The Hang Seng added, 0.64% after taking a break for holidays.

European markets are higher today as markets mostly rebound from their sell off. The ECB offered no indication that it will greatly increase their quantitative easing but stated that purchases will begin later this year and should impact the balance sheet sizably. Currently, The CAC 40 is up 0.55% while the FTSE 100 is up 0.63%. The German DAX is closed. The Nonfarm Payroll report will be released today at 12.30 pm GMT and the expectation is to see an increase of 220,000 jobs during the previous month.