Stocks fall, yields jump as Fed holds firm on hikes



*

Stocks end lower after volatile day

*

Dollar, Treasury yields higher ahead of jobs report

*

Oil scores fourth day of gains

By Pete Schroeder

WASHINGTON, Oct 6 (Reuters) - U.S. stocks fell while the dollar and Treasury yields jumped on Thursday as Federal Reserve officials showed little sign of backing away from interest rate hikes ahead of Friday's monthly U.S. jobs report.

U.S. stocks seesawed during the trading day, but ended lower after multiple Fed officials continued to emphasize that rates would continue to go up until inflation was under control.

The Dow Jones Industrial Average .DJI closed down 1.15%, the S&P 500 .SPX lost 1.02% and the Nasdaq Composite .IXIC slipped 0.68%.

The MSCI world equity index .MIWD00000PUS , which tracks shares in 45 nations, was down 0.85%.

Investors will be looking to Friday's Labor Department report for some clarity as to whether a steady diet of rate hikes has begun to take a bite out of the economy and high inflation. Economic data this week has produced conflicting views, with some signs of softening in labor demand while other reports indicated hiring was as robust as ever.

For their part, Fed officials' remarks have undercut any fledgling hope the central bank may be preparing to step away from ongoing rate hikes.

A trio of officials hit the same tone on Thursday, with Fed Governor Lisa Cook, Chicago Fed President Charels Evans, and Minneapolis Fed President Neel Kashkari all emphasizing in remarks that the inflation fight was ongoing and they were not prepared to change course.

Opposite stocks, the dollar and U.S. Treasury yields both gained on the day.

The dollar index .DXY , which tracks the greenback versus a basket of six currencies, rose 1.103 points or 0.99%, to 112.177. The benchmark 10-year Treasury note US10YT=RR grew 6.3 basis points to 3.812%.

"The rise in U.S. yields is weighing on equities and it is driving up the U.S. dollar too," said David Madden, market analyst at Equiti Capital. "In recent weeks, the greenback has been a popular safe haven play and considering the fall in equities, it is also receiving a lift in that regard."

LABOR LOOSENING?

Markets were also volatile ahead of Friday's jobs report as investors weighed competing narratives from other data.

On Thursday, the U.S. Labor Department reported initial claims for jobless benefits came in at 219,000 for the week ended Oct. 1, exceeding economist expectations of 203,000.

"The job market is still solid but is softening," said Bill Adams, chief economist for Comerica Bank. "As the unemployment rate ticks higher, wage growth will likely slow, taming some of the inflationary pressure in the U.S. economy."

Complicating the near-term outlook further is next week's data on U.S. consumer inflation, which is expected to have slowed for a third month in September to 8.1%, still its highest since the mid-1980s.

Plans by the Organization of the Petroleum Exporting Countries and its partners, including Russia, to steeply cut oil production continued to drive oil prices higher, where prices jumped for the fourth straight day.

Brent crude futures LCOc1 settled 1.1% higher at $94.42 a barrel, and U.S. crude CLc1 closed up 0.8% at $88.45 a barrel.



Asia stock markets Link
Asia-Pacific valuations Link



Reporting by Pete Schroeder; Additional reporting by Dhara
Ranasinge in London and Stella Qiu in Sydney; Editing by Emelia
Sithole-Matarise, Bernadette Baum, Andrew Heavens, Susan Fenton
and Marguerita Choy



免責聲明: XM Group提供線上交易平台的登入和執行服務,允許個人查看和/或使用網站所提供的內容,但不進行任何更改或擴展其服務和訪問權限,並受以下條款與條例約束:(i)條款與條例;(ii)風險提示;(iii)完全免責聲明。網站內部所提供的所有資訊,僅限於一般資訊用途。請注意,我們所有的線上交易平台內容並不構成,也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。

所有缐上交易平台所發佈的資料,僅適用於教育/資訊類用途,不包含也不應被視爲適用於金融、投資稅或交易相關諮詢和建議,或是交易價格紀錄,或是任何金融商品或非應邀途徑的金融相關優惠的交易邀約或邀請。

本網站的所有XM和第三方所提供的内容,包括意見、新聞、研究、分析、價格其他資訊和第三方網站鏈接,皆爲‘按原狀’,並作爲一般市場評論所提供,而非投資建議。請理解和接受,所有被歸類為投資研究範圍的相關内容,並非爲了促進投資研究獨立性,而根據法律要求所編寫,而是被視爲符合營銷傳播相關法律與法規所編寫的内容。請確保您已詳讀並完全理解我們的非獨立投資研究提示和風險提示資訊,相關詳情請點擊 這裡查看。

我們運用 cookies 提供您最佳之網頁使用經驗。更改您的cookie 設定跟詳情。

風險提示:您的資金存在風險。槓桿商品並不適合所有客戶。請詳細閱讀我們的風險聲明