JOLTED – After dropping for three days, US equity indexes were hovering at or just above their 50 day moving averages. But a job opening reading from JOLTS showed that the datapoint rose to 6.628mn in July, better than the 6mn expected, and above June’s 6.001mn. The S&P 500 gapped higher on the print, and is back above 3400. Instead of buying the re-opening stocks though, investors are focusing on the YTD winners (see below). Granted the JOLTS data is from July, so tomorrow’s weekly claims number will be a better gauge to job/ jobless growth.
The content on this site is available to all Redburn clients as part of Redburn Execution’s standard service. It is not considered substantive research and there are no commercial implications to viewing these pages.
Please enter your email address below to view this page. If you are still unable to access the page, please speak to your account manager.