Wall Street steadies after U.S. jobs report sell-off



(Updates to U.S. market open)

* U.S. stocks regain ground

* Oil dips

* Treasury yields decline

By Lawrence Delevingne and Tom Wilson

Aug 8 (Reuters) - U.S. and global stock markets gained ground on Monday, recovering from losses sparked by a strong U.S. jobs report last week that bolstered the case for sharp interest rate hikes, while the dollar weakened and government bond yields fell.

On Wall Street, the Dow Jones Industrial Average .DJI rose 0.69% to 33,029.18, the S&P 500 .SPX gained 0.70% to 4,174.11 and the Nasdaq Composite .IXIC added about 0.8% to 12,759.00 in early trading.

Those gains echoed the broad Euro STOXX 600 .STOXX , which gained about 1% on Monday, led by cyclical and growth stocks, helping recover losses from Friday. Miners .SXPP and technology stocks .SX8P , hit hard in the previous week, led the gains.

The MSCI world equity index .MIWD00000PUS , which tracks shares in 47 countries, added 0.75%, also recovering from losses on Friday.

Yet higher rates remained squarely in focus for investors.

"The rise in inflation and the Fed's reaction to it has been a real headwind for valuations this year," Morgan Stanley strategists wrote in a note on Monday.

"However, it's also been a tailwind for earnings. Now, we are on the other side of that mountain, and operating leverage is rolling over likely more than the consensus expects."

Indeed, business investment appears to be an early victim of red-hot U.S. inflation and rising interest rates, according to fresh U.S. government data.

The strong U.S. jobs data raised the stakes for the July U.S. consumer prices report due on Wednesday, which could see a slight pullback in headline growth, but likely a further acceleration in core inflation.

"Our economists expect the headline (annual) rate to finally dip after energy prices have fallen of late," Deutsche Bank analysts wrote.

U.S. Treasury yields dipped on Monday as investors continued to digest the jobs report and how the Fed will react. Fed funds futures traders are now pricing for a 69% chance of another 75-basis-point rate increase in September, and for the fed funds rate to rise to 3.65% by March, from 2.33% now. FEDWATCH

Benchmark 10-year note yields US10YT=RR fell to 2.794% on Monday, after getting as high as 2.869% on Friday, the highest since July 22. Two-year yields US2YT=RR were last 3.232%, after reaching 3.331% on Friday, the highest since June 16.

Bonds also got a safe-haven bid due to unease over Beijing's sabre rattling against Taiwan as China conducts four days of military exercises around the island Link

DOLLAR EXPECTIONALISM?

The U.S. dollar fell 0.4% versus a basket of currencies to 106.23 =USD , giving up some gains after strengthening on the jobs boom and the jump in yields.

FX analysts were bullish on the greenback's prospects.

"Data like this will further any thoughts about 'U.S. exceptionalism' and is very positive for the USD against all currencies," said Alan Ruskin, global head of G10 FX strategy at Deutsche Bank, referring to the U.S. jobs statistics.

The euro squeezed out slim gains to reach $1.021 EUR=EBS .

Bitcoin and other cryptocurrencies, which tend to act as a barometer for risk appetite, gained. Bitcoin BTC=BTSP was last up 4.3% at $24,190.

Gold broke higher on Monday as the dollar and Treasury yields retreated, with focus on U.S. inflation numbers this week that could influence the Federal Reserve's next rate hike. Spot gold XAU= rose 0.5% to $1,782.36 per ounce by 1252 GMT, after dropping 1% in the previous session. U.S. gold futures GCv1 edged 0.4% higher to $1,798.40.

Erasing earlier gains, Brent crude futures LCOc1 fell about 0.8% to $94 a barrel. U.S. West Texas Intermediate crude CLc1 was at $88 a barrel, down about 1%.
Reporting by Lawrence Delevingne in Boston, Tom Wilson in London; additional reporting by Wayne Cole in Sydney; Editing by Andrew Heavens

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