US JOBS DATA
US jobs market shows broad-based recovery in October as hiring beats estimates
US employers added 165,000 jobs in October, far exceeding expectations, while unemployment fell to 4.1%. However, a closer look reveals uneven labour market trends, with foreign-born workers driving gains, manufacturing recovering and job seekers facing longer unemployment spells.
Yuan holds firm against dollar as seasonal corporate selling offsets greenback strength
China's yuan remained stable against the US dollar as seasonal year-end dollar sales by exporters offset greenback strength following robust US jobs data. Beijing's efforts to manage currency appreciation, alongside foreign exchange reserve adjustments, supported stability. Meanwhile, inflation trends and subdued domestic demand continued influencing monetary policy and currency movements.
D-Street poised for positive start as GIFT Nifty signals gains
The Indian market concluded lower during the special Muhurat Trading session, breaking a seven-session winning streak. Analysts indicate strong institutional participation and corporate earnings underpin the market structure. India VIX rose by 12% to reflect increased market fear, settling at 17.46 levels. Foreign portfolio investors net bought shares worth Rs 13,749 crore, while domestic investors sold shares.
US dollar holds onto payrolls gains, NZ dollar rises after election
Dollar index steadies at 102.20 after jumping about 0.7% Friday * Fed hike bets rekindled after receding amid AI stock selloff * NZ ballot too close to call, leader will not be known for weeks TOKYO
Gold edges up as softer crude tempers inflation concerns
Gold prices edged higher on Monday as softer oil prices eased inflation concerns, though gains were capped by expectations that the Federal Reserve will keep US interest rates higher
US employers add 165,000 jobs in October, but worrying joblessness trends remain: Here's what the latest numbers mean for you
US employers added 165,000 jobs in October, resulting in a decrease in the unemployment rate to 4.1 percent. Average hourly earnings saw a year-over-year increase of 3.1 percent, although it remains below the inflation rate. The US Federal Reserve might be considering a potential interest rate hike after the robust jobs report, which could be announced next month.
Charting the global economy: Job growth in US tops all forecasts
US employment rose significantly last month, with the jobless rate declining to 4.1%, indicating robust economic activity. Labor productivity increased sharply in the third quarter, reflecting business adaptation to rising costs and greater efficiency.
Bitcoin trades near $76K, Ethereum at $2,240 as tech selloff, strong US jobs data weigh on crypto markets
Bitcoin hovered near $76,000 and Ethereum around $2,240 as technology stock weakness, AI spending concerns and US crypto legislation uncertainty weighed on sentiment. Despite modest daily gains, major cryptocurrencies remained under weekly pressure, with ETF outflows, macroeconomic data and market volatility influencing investor appetite.
Dollar jumps after strong US payrolls report
The US dollar index jumped significantly following the Labor Department's report indicating an increase of 165,000 jobs last month, which far exceeded economists' forecasts. As a result, the probability of a rate hike from the Federal Reserve climbed to nearly 80% for next month. Moreover, Federal Reserve officials voiced concerns about ongoing inflation, leading to declines for other currencies such as the euro and sterling against the dollar.
US treasury bond prices down on Friday, Yields on 10-year, 30-year, 2-year jump. Check latest rates
When US bond prices fall, yields rise. Despite Friday's jump, yields have steadily moved lower in recent weeks. For the week, the 10-year yield posted its fifth straight decline
Federal Reserve rate hike bets strengthen as US jobs growth beats estimates
Stronger than expected US jobs growth has revived expectations of a December Federal Reserve rate hike, with employers adding 165,000 jobs in October against estimates of 65,000. The unemployment rate fell to 4.1%, while markets raised the probability of a quarter point hike to 85% and brought forward expectations of another increase.
US stocks today: Nasdaq rebounds as chip stocks recover from steep losses, rate fears persist
US stocks rebound as chipmakers recover from Thursday's steep AI-led selloff, lifting the Nasdaq 1.73%. Nvidia, AMD, Intel and Micron lead the recovery, while stronger-than-expected October jobs data revive concerns over a December Fed rate hike. Airbnb rallies after raising its full-year revenue growth forecast, while Atlassian shares decline.
Tech layoffs were just the start: 1.6 million more US job cuts could push America toward recession
US technology layoffs have crossed 200,000 in 2026, with Google, Microsoft, Amazon and other major companies cutting jobs. But the bigger concern is whether the trend will spread to retail and financial services, where another 1.6 million job losses could push unemployment higher and raise fears of a US recession.
US stock market today: Why is the Nasdaq up 1% while the Dow Jones falls? S&P 500 turns green amid tech stock volatility and Fed rate hike fears over strong October jobs report
US stock market today: Wall Street is seeing a split recovery on Friday after Thursday's AI-led sell-off. The Nasdaq has jumped 1.02%, while the Dow Jones has fallen 0.90% and the S&P 500 gained 0.29%. Nvidia, AMD, Intel, Broadcom and Micron were among the chipmakers recording gains in early trading. Nvidia's rebound has been particularly important because of its large weight in the broader market.
OpenAI kicks off charm offensive to change voters' view of data centers
Stunning victories by Democrats in US midterm elections this week have been interpreted by many as Americans repudiating tech industry plans to build data centers across the country.
Indian GCCs set to add 35k jobs in 2027
ANSR expects these jobs – ranging from 30,000 to 35,000 - to be added by 160-175 new greenfield GCCs amid an increasing number of inquiries from US mid-sized companies. The caveat emptor: Experts say this interest is yet to translate into plans for large-scale relocation of jobs from the US.
Google unveils $15 billion data centre investment in Malaysia
Google announced plans on Wednesday to invest $15 billion in Malaysia over the next two years to build data centres and other infrastructure as demand booms for artificial intelligence services. It said the $15 billion investment will be made "over the next two years (2027 to 2028)", expanding on a $2 billion investment announced in 2024.
US Treasury yields climb as strong jobs data, midterm polls weigh; 10-year yield eyes 5% again
US Treasury yields climbed as stronger than expected September jobs data pointed to a resilient labour market, while investors awaited the midterm election results. Falling oil prices briefly eased pressure on bonds, but the move reversed as economic data reinforced growth expectations and uncertainty over future US fiscal policy kept investors cautious.
US job openings increase sharply by 333,000 in September
In September, the US saw a notable increase in job openings, showing a rise of 333,000. Layoffs fell to 1.641 million, providing evidence of a resilient labor market. Hiring activities also increased, reflecting a hires rate rise from previous months. However, concerns regarding the ongoing US-Israeli conflict with Iran may be impacting hiring decisions. Economists maintain that the labor market remains characterized by stable demand and low layoffs.
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