JOLTs Job Openings Drop To 7.44 Million, Missing Analyst Expectations

On October 29, 2024, U.S. released JOLTs Job Openings report for September. The report indicated that JOLTs Job Openings declined from 7.86 million (revised from 8.04 million) to 7.44 million. Analysts expected that JOLTs Job Openings would drop to 7.99 million, so the report missed analyst estimates.

Today, traders also had a chance to take a look at the CB Consumer Confidence report for October. The report showed that Consumer Confidence increased from 99.2 in September (revised from 98.7) to 108.7 in October, compared to analyst consensus of 99.5.

The Present Situation Index increased from 123.8 in September to 138.0 in October, while the Expectations Index grew from 82.8 to 89.1.

The Conference Board commented: “Consumer confidence recorded the strongest monthly gain since March 2021, but still did not break free of the narrow range that has prevailed over the past two years.”

U.S. Dollar Index moved lower as traders focused on the weaker-than-expected JOLTs Job Openings report. The report showed that the job market may have found itself under pressure, which is bearish for the American currency. Currently, U.S. Dollar Index is trying to settle below the 104.40 level.

Gold tested historic highs near the $2770 level as traders remained bullish ahead of U.S. elections.

SP500 gained some ground and moved above the 5830 level as traders bet that Fed may be more dovish due to the potential weakness of the job market.

For a look at all of today’s economic events, check out our economic calendar.