Lower Wages Drive Bonds And Stock Index Futures Higher
The Labor Department reported that wages and jobs grew at a slower-than-expected pace and T-bonds and stock index futures are rallying on the news. From the Momentum-5 List, T-bonds shot up almost 1 point following release of the data.
Also from the momentum-5 List, Nasdaq 100 futures shot up to a new all-time high and the S&Ps and Dow futures are trading at two-month highs.
The yen is down sharply and dollar index futures have traded up to fresh 20-day highs.
Here are the highlights around noon Eastern time:
Stock Index and Bond Futures•December T-bonds [USZ9>USZ9]: +14/32 to 114 17/32
• December S&Ps [SPZ9>SPZ9]: +18.30 to 1386.80
• December Dow futures [DJZ9>DJZ9]: +18.30 to 1386.80
• December NASDAQ 100 futures [NDZ9>NDZ9]: +53.00 to 2774.00
Currencies
•December dollar index futures [DXZ9>DXZ9]: -.06 to 100.24
•December Japanese yen futures [JYZ9>JYZ9]: -.0145 to .9439
Energies•December crude [CLZ9>CLZ9]: +.15 to 23.29
Metals•December copper [HGZ9>HGZ9]: -.95 to 79.95
Grains•December wheat [WZ9>WZ9]: -3 1/4 to 256
Meats•December lean hogs [LHZ9>LHZ9]: +.500 to 45.700
Softs and Fibers•December coffee [KCZ9>KCZ9]: -1.00 to 104.95