US Weaker Jobs Data & Stock Indices

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S&P index and Dow lead the way higher

The US major indices are shrugging off the weaker jobs data. The major indices are opening modestly higher:
  • S&P index up 12.28 points or 0.33% of 3678.55
  • NASDAQ index up 9.5 points or 0.08% at 1387.60
  • Dow up 80 points or 0.27% of 30049
In other markets,
  • spot gold is trading up $3.50 or 0.19% at $1844.66.
  • Spot silver is trading up $0.10 or 0.44% at $24.17
  • WTI crude oil futures are trading up $0.17 or 0.35% at $45.81
In the US debt market, the yields have moved higher with the yield curve steepening. The 2 - 10 year spread is now trading above 80 basis points. That is the highest since February 2018. That is up from 75.77 basis points at the close yesterday. The 10-year yield is inching closer to 1.0%. The high yield has reached 0.969% so far today.
 
In the forex market, the GBP has moved to the strongest of the majors on hopes for and Brexit deal this weekend. The CAD is also higher after their better-than-expected jobs report.  The NZD and the JPY are the weakest. The USD is tilting more to the downside after the jobs report.  

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