U.S. Jobless Claims Fall to Lowest Level in Two Months
09-02 17:51uSMART

Stock Market's Worst Month Gets Even More Dicey With Hawkish Fed; US Jobs Data Have Potential to Push Fed Toward Third Jumbo Hike; U.S. Jobless Claims Fall to Lowest Level in Two Months.



US Markets concluded mixed, with the Nasdaq lagging other major benchmarks to close lower ahead of payrolls data    

EU Markets closed lower, with Euro zone manufacturing activity shrinking for the second straight month to 49.6 in August

Asia Markets wrapped up in the red, with China’s Caixin/Markit manufacturing PMI for August coming in at 49.5 in August



US ISM Manufacturing held steady in August at 52.8, on the back a strong rebound in employment and new orders

Gold has slipped below the 1700 levels on the back of a stronger dollar which has now hit a 20-year high

WTI Crude Oil remains under pressure as renewed lockdown measures in China stoked fears of reduced fuel demand



NVIDIA and AMD tumbled 7% and 6% respectively, after the US government was said to restrict the sale of AI chips to China  

OKTA plunged 33.7% despite beating top and bottom lines as it faced a string of downgrades following its acquisition of Auth0

Hormel Foods retreated 6.5% after lowering its earnings guidance for the year, citing cost inflation as a key concern


Today’s Earnings

  • Greatbatch, Inc


Economic Calendar (05 September 2022)

  • Singapore S&P Global PMI (August)




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