U.S. jobs and PMI data steer global markets this week
U.S. investors and analysts are focused on a series of labour‑market releases. The ADP payroll report on Wednesday will precede the official non‑farm employment numbers on Friday, with a median forecast of about 85,000 new jobs. The Federal Reserve kept its policy rate unchanged earlier in the week, but officials signalled that a further hike later in the year remains possible, while new Fed chair Kevin Warsh stressed the priority of taming inflation.
The July industrial Purchasing Managers' Index (PMI) came in at 53.9, indicating modest expansion, but the report noted a slowdown in production growth and a third‑month decline in new orders. Inflation in production costs eased slightly, yet pressure stays high because of energy prices and import duties.
Equity markets reacted positively: U.S. stock futures rose, with the Dow up 291 points, the S&P 500 gaining 0.7 % and the Nasdaq 100 climbing about 1 %. The rally is underpinned by strong earnings from large‑cap tech firms such as Microsoft and Amazon, though investors remain cautious about continued AI‑driven capital spending. Oil prices fell sharply after President Donald Trump announced the cancellation of a planned strike on Iran, pushing WTI down roughly 6 % to $79.66 a barrel. The drop in oil, together with a weakening dollar, lifted spot gold to $4,058.37 per ounce.
In Europe, lower oil prices helped most stock indexes close higher on Monday, while the Dutch AEX saw Adyen lead gains. In Hong Kong, the market preview highlighted the upcoming U.S. data and the imminent release of SpaceX’s lock‑up shares, representing about 7 % of its float.
Entities: ADP · Elon Musk · Federal Reserve · Gold · Palantir · SpaceX · United States
Claims
What the coverage asserts, and how well corroborated each claim is across sources.
- [○ 1 SOURCE] The July industrial PMI in the United States was 53.9, indicating expansion. (348d8a8e-a1ce-44e0-9093-3bae76dfb920)
- [○ 1 SOURCE] The median forecast for U.S. non‑farm payrolls on Friday is about 85,000 jobs. (700382cd-ed86-42dd-85d9-8eb84eec2dbd)
- [○ 1 SOURCE] Spot gold rose to $4,058.37 per ounce as oil prices fell and the U.S. dollar weakened. (0e2942a8-66db-49c3-9d3e-e226be99df67)
- [○ 1 SOURCE] U.S. stock futures rose on Monday, with the Dow up 291 points, the S&P 500 up 0.7 % and the Nasdaq 100 up about 1 %. (9c150d12-4113-4dbc-9758-21d6161858fb)
- [○ 1 SOURCE] The ADP payroll report will be released on Wednesday before the official non‑farm employment numbers on Friday. (f224b037-4607-4fe6-8978-aac440d52c3d)
- [○ 1 SOURCE] SpaceX will release about 9.115 billion shares, roughly 7 % of its float, after its lock‑up period ends. (700382cd-ed86-42dd-85d9-8eb84eec2dbd)
- [○ 1 SOURCE] Oil prices fell after President Donald Trump announced the cancellation of a planned attack on Iran, with WTI dropping to $79.66 a barrel. (9c150d12-4113-4dbc-9758-21d6161858fb)