{"id":168033,"date":"2020-04-03T07:45:12","date_gmt":"2020-04-03T11:45:12","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=168033"},"modified":"2020-04-03T07:34:55","modified_gmt":"2020-04-03T11:34:55","slug":"futures-slip-ahead-of-jobs-report","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2020\/04\/futures-slip-ahead-of-jobs-report\/","title":{"rendered":"Futures slip ahead of jobs report"},"content":{"rendered":"
April 3, 2020<\/div>
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By IFCMarkets<\/a><\/p>\n

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US stocks recover led by oil shares propped by Trump tweet on expected crude output cut<\/h2>\n<\/div>\n<\/div>\n

US stock market <\/b> rebounded on Thursday as optimism on rallying oil prices after President Trump tweeted Saudis and Russia would cut production by about 10 million barrels per day offset concerns about downturn in economy ahead of expected dismal jobs report. The S&P 500<\/a> rose 2.3% to 2526.9. erasing over half of previous session loss. The Dow Jones <\/em> industrial average advanced 2.2% to 21413.44. Nasdaq <\/a> composite index rebounded 1.7% to 7487.31. The dollar strengthening continued at previous pace despite report more than 6.6 million Americans filed for unemployment insurance for the first time last week doubling the previous week\u2019s record: live dollar index<\/a> data show the ICE US Dollar index, a measure of the dollar\u2019s strength against a basket of six rival currencies, rose 1.4% to 100.09 and is higher currently. The labor market report due today is feared to show massive job losses caused by businesses shutting down due to the coronavirus pandemic.. Futures point to lower market openings today.<\/p>\n

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FTSE 100 leads European indexes\u2019 advance<\/h2>\n<\/div>\n<\/div>\n

European stocks <\/b> recovered partially on Thursday. GBP\/USD <\/em> joined EUR\/USD\u2019s<\/em> accelerated slide yesterday with both pairs lower currently. The Stoxx Europe 600 index advanced 0.2% led by oil and gas shares. Germany\u2019s DAX 30 <\/a> gained 0.3% to 9570.82. France\u2019s CAC 40 <\/em> added 0.3% while UK\u2019s FTSE 100 <\/em> rose 0.5% to 5480.22.<\/p>\n

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Nikkei edges up while Asian indexes retreat<\/h2>\n<\/div>\n<\/div>\n

Asian stock indices<\/b> are mostly lower today after solid gains on Wall Street staged by rally in energy shares. Nikkei <\/em> ended marginally higher adding 1.5 points to 17820.19 as yen continued sliding against the dollar. Markets in China are falling despite Caixin report services PMI rebounded in March: the Shanghai Composite Index <\/em> is down 0.6% while Hong Kong\u2019s Hang Seng Index <\/em> is 0.5% lower. Australia\u2019s All Ordinaries Index pulled fell 1.7% despite the Australian dollar\u2019s continued slide against the greenback.<\/p>\n

\"Nikkei<\/p>\n

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Brent <\/a> advances<\/h2>\n<\/div>\n<\/div>\n

Brent futures prices <\/b> are extending gains today. Prices jumped yesterday after President Trump tweeted that he expected a cutback of \u201capproximately 10 Million Barrels, and maybe substantially more\u201d in crude oil output by Saudi Arabia and Russia. Saudi Arabia news agencies reported the kingdom had called for an \u201curgent\u201d meeting of the Organization of the Petroleum Exporting Countries and major producers to discuss restoring \u201c a desired balance of the oil markets.\u201d The crude output curbing agreement between the Organization of the Petroleum Exporting Countries and non-member allies such as Russia expired on March 31. June Brent crude surged 21% to $29.94 a barrel on Thursday.<\/p>\n

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Gold pulls back<\/h2>\n<\/div>\n<\/div>\n

Gold <\/b> prices are retracing lower today. Prices bounced yesterday: gold for June delivery rose 0.4% to $1638.30 an ounce on Thursday.<\/p>

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Market Analysis provided by IFCMarkets<\/a><\/p>\n

Note:
\nThis overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or \u0430 recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.<\/p>\n","protected":false},"excerpt":{"rendered":"

By IFCMarkets US stocks recover led by oil shares propped by Trump tweet on expected crude output cut US stock market rebounded on Thursday as optimism on rallying oil prices after President Trump tweeted Saudis and Russia would cut production by about 10 million barrels per day offset concerns about downturn in economy ahead of […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-168033","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/168033","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=168033"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/168033\/revisions"}],"predecessor-version":[{"id":168053,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/168033\/revisions\/168053"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=168033"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=168033"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=168033"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}