JOLTs Job Openings Rise To 8.04 Million, Exceeding Analyst Expectations

On October 1, 2024, U.S. released JOLTs Job Openings report for August. The report indicated that JOLTs Job Openings increased from 7.71 million (revised from 7.67 million) to 8.04 million, compared to analyst consensus of 7.65 million.

Traders also focused on the ISM Manufacturing PMI report, which indicated that ISM Manufacturing PMI remained unchanged at 47.2. Analysts expected that ISM Manufacturing PMI would increase to 47.5, so the report missed analyst expectations.

The Institute for Supply Management commented: “Demand remains subdued, as companies showed an unwillingness to invest in capital and inventory due to federal monetary policy – which the U.S. Federal Reserve addressed by the time of this report – and election uncertainty.”

Today, traders also had a chance to take a look at the final reading of S&P Global Manufacturing PMI report for September. The report showed that S&P Global Manufacturing PMI declined from 47.9 in August to 47.3 in September, compared to analyst consensus of 47.

U.S. Dollar Index moved away from session highs as traders reacted to economic reports. Currently, U.S. Dollar Index is trying to settle below the 101.10 level.

Gold settled near the $2665 level as traders remained focused on geopolitical developments. U.S. said that Iran was preparing to attack Israel, and traders rushed to buy safe-haven assets.

SP500 pulled back towards the 5700 level after the release of the reports. It should be noted that geopolitics may remain the biggest catalyst for equity markets today.

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