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Daily Note 06/09/2024 – Market View: Day Ahead, Macro, Stocks, Debt Markets

06.09.2024



  • Macro: Markets were unusually mixed yesterday with the S&P 500 down slightly and the Nasdaq up by roughly the same amount, as the Magnificent 7 staged a small rally and the broader S&P whipsawed ahead of today’s important Non-Farm Payroll data. In Europe the Stoxx 600 broad index was down marginally. Later this morning, we get French industrial production and trade at 7.45am, the EU GDP and employment data for Q2 at 10am, at 11am we have the Irish live unemployment register. Over in the US the focus will be on the Non-Farm Payroll data at 1.30pm (165k est.) along with the unemployment rate (4.2% est.), average hourly earnings (3.7% you est.), weekly hours worked (34.3hrs est.) and labour participation rate (62.7% est.). he Fed’s Williams and Waller will be giving speeches today.
  • Stock: We have updates on Visa, Microsoft, Cairn Homes, and CRH.
  • Debt: Bond yields moved modestly lower based on mixed economic results.