Via Dave Lutz at JonesTrading, here’s a super quick guide to what traders are talking about before the September jobs report drops.
Good Morning, and TGIF! US Futures are awakening in a good mood, with the S&P resting 40bp higher as we are awaiting Jobs data in US (Street at 201,000 – range of 149k to 256k). This follows a nice move upward in Europe, despite continued negative headlines on the Autos hitting VW for 2% – Frankfurt is adding 1.5% led by moves in Tech (Semis rallying on MU #s), materials and Industrials – but volume across the continent remains tepid. In London, eyes remain on Glencore which continues to hold yesterday’s bid on the back of insider buying. Over in Asia, the Nikkei consolidated the last 2 sessions gains, while Hong Kong reopened after a holiday to pop 3% led by a surge in Gaming Stocks on Chinese tourism commentary. China remains closed for the next few sessions, while profit-taking from the week’s move in Banks hit Aussie for 1.2%. Emerging markets traded cautiously into the NFP Number, with most staying within 25bp of the prior nights close in light volume.
