Sep 3 -- Opening Market Comment

  

The dollar is opening in New York mostly flat vs the other major currencies. Equities futures are up around the globe and bonds are slightly lower. Gold is up and oil is down.

 

There will be very little activity this morning in the US markets until the employment numbers are released at 8:30. After that there will be a small flurry of activity and then everyone will pack up for the long holiday weekend and go home.

 

The ISM manufacturing data due out at 10:00 am might have a significant impact in these thin markets. 

 

The US employment numbers came in mixed. Unemployment is up at 9.6%, non-farm payrolls are down 54K (better than expected) and hourly earnings are up 0.3%. Not a great picture but not terrible either. The data suggests that we will not entering a double-dip recession.

 

Now that eveyone know the numbers the long weekend cna begin.