Open July 8

​In Asian Equity Markets indices were lower in Monday morning trade. In Japan, the Nikkei 225 slipped 0.8%, while the Topix index shed 0.56%. Over in South Korea, the Kospi decline 1.69%, as shares of industry heavyweight Samsung Electronics and SK Hynix fell more than 1.5% each. Hong Kong’s Hang Seng index fell 1.36%, following another round of protests that rocked the city on Sunday. In mainland China, the Shanghai composite fell 1.45% in early trade. Meanwhile, the S&P/ASX 200 in Australia declined 0.95%.


In Currency Markets the U.S. dollar rose broadly on Monday after strong U.S. jobs growth in June suggested the Federal Reserve will not aggressively cut interest rates later this month. U.S. nonfarm payrolls rebounded in June to 224,000, the most in five months, data showed on Friday, beating economists’ consensus estimate of 160,000. The index, which measures the greenback against a basket of major currencies, was last quoted at 97.277, almost flat in early Asian trade on Monday, with the euro traded at $1.1223.


In Commodities Markets crude prices were little changed on Monday as traders weighed geopolitical risks against the impact of the Sino-U.S. trade war on the global economy, although last week’s better-than-expected U.S. jobs data offered some support. Brent crude futures were down 3 cents at $64.20. U.S. West Texas Intermediate (WTI) was up 6 cents at $57.57 a barrel. Both oil benchmarks fell last week as concerns about a slowing global economy outweighed risks to supply. Brent fell more than 3% and WTI shed more than 1.5%.


In US Equity Markets stocks fell slightly on Friday, as the S&P 500 snapped a three-day streak of record closes, following an unexpectedly strong U.S. payrolls report that led investors to reassess how dovish a stance the Federal Reserve may take at its next meeting. The S&P 500 lost 0.18%, to 2,990.41 and the Nasdaq Composite fell 0.1%, to 8,161.79. Shares of banks, which have been under pressure from falling benchmark debt yields in recent weeks, rose 0.73% and helped drive a 0.38% gain in financials, one of the few bright spots among S&P sectors.


In Bond Markets U.S. Treasury yields rose across the board on Friday, after data showed the world’s largest economy created far more jobs than expected in June, suggesting that the Federal Reserve will not aggressively cut interest rates later this month. The U.S. benchmark 10-year note yields rose to 2.068% , a one-week peak, from 1.955% late on Wednesday. They were last at 2.044%. Ten-year yields hit 1.939% on Wednesday, which was their lowest level since November 2016.