Bond yields are holding steady and stock futures are pointing higher ahead of today’s monthly jobs report. Following last month’s unexpectedly strong data, investors will be paying close attention to this morning’s update to see whether the U.S. labor market continues its hot streak. The resilient jobs picture has supported stocks, but upbeat hiring data today could raise concern that the economy is overheating and pressure the Fed to speed up interest-rate hikes.
The report is due out at 8:30 a.m. ET. Benchmark Brent crude oil futures fell nearly 3% to below $100 a barrel. European officials are discussing whether to tap diesel reserves in a bid to relieve soaring fuel prices and head off President Trump’s threat to ban U.S. diesel exports.
Treasury yields are little changed, while German and U.K. yields are retreating after yesterday’s global bond selloff. France continues to worry investors, though, with the difference, or spread, between French and German 10-year yields near its widest levels since 2012.
Source: Wall Street Journal Markets · Summarized by HeadlinesBriefing