Stock index futures were trading in green on Wednesday, a day after JOLTS data showed that the situation on the labor market continued to weaken and investors were waiting for the next labor market report.
S&P 500 futures (SPX) +0.4%Nasdaq 100 futures (US100:IND) +0.6% and Dow futures (INDUM) +0.2%.
The yield on the 10-year Treasury bond (US10Y) remained steady at 4.33%. The yield on 2-year bonds (US2Y) remained unchanged at 4.78%. See how different rates of return compare across the yield curve.
Wall Street’s major market averages ended slightly higher on Tuesday as investors got through a turbulent trading day.
The April Job Offers and Job Turnover Survey showed that the number of job offers fell to 8.059 million from 8.355 million in March, which itself was revised down from 8.488 million. April’s printing fell tiny of the expected 8.370 million.
“A clear indicator of the cooling of the U.S. labor market, with labor demand still moderate. This also follows a series of generally weaker US data over the last few days,” said Jim Reid of Deutsche Bank.
“The April JOLTS report brings further signs of labor market normalization. There will likely be lower wage growth,” Pantheon Macroeconomics said.
Hewlett Packard Enterprise (HPE) was among the market leaders. boost by 14% in pre-IPO trading after its second-quarter guidance and results beat estimates thanks to its artificial intelligence capabilities.