All of the major averages were lower to record their third consecutive weekly decline. The Dow and S&P lost roughly 3% and 3.3%, respectively, while the Nasdaq fell 4.2%

MACRO

US Markets closed in the red to record their third consecutive weekly decline despite a strong jobs report     

EU Markets snapped a 5-day losing streak to wrap up higher as US jobs report fell in line with expectations

Asia Markets were mixed Friday, with CPI in South Korea rising slower-than-expected to 5.7% in August from a year ago  

US Non-Farm Payrolls jumped by 315,000 jobs in August, while unemployment rate edged higher to 3.7%

SECTORS

Gold rose marginally, trading above $1,710/oz at time of writing on the back of a weaker dollar

WTI Crude Oil ticked higher ahead of OPEC+ meeting today on expectations that output will be slashed due to softening demand

COMPANY

Lululemon soared 6.7% after earnings surpassed expectations while raising full-year outlook   

Broadcom inched 1.67% higher having reported stronger-than-expected revenue alongside an upbeat guidance

Beyond Meat tumbled nearly 5% after Ballie Gifford announced a 6.61% ownership in the company, down from 13.38% on 31 December 2021

EVENTS

Today’s Earnings:

• N/A (US Markets closed for Labour Day)

Economic Calendar (06 September 2022)

• Australia RBA Interest Rate Decision
• US ISM Non-Manufacturing PMI (August)

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