Skip to content

We want to clarify that IG International does not have an official Line account at this time. We have not established any official presence on Line messaging platform. Therefore, any accounts claiming to represent IG International on Line are unauthorized and should be considered as fake.
CFDs are complex instruments. 72% of retail client accounts lose money when trading CFDs, with this investment provider. You can lose your money rapidly due to leverage. Please ensure you understand how this product works and whether you can afford to take the high risk of losing money.
CFDs are complex instruments. 72% of retail client accounts lose money when trading CFDs, with this investment provider. You can lose your money rapidly due to leverage. Please ensure you understand how this product works and whether you can afford to take the high risk of losing money.

Beat the street: US jobs data

The first Friday in the month brings one of the big pieces of US economic data: non-farm payrolls.

Video poster image

Economists are looking for 188,000 jobs to have been created in October, down from the 336,000 print in September, with the unemployment rate on hold at 3.8%.

We’ll be looking at the dollar’s performance to see if the recent upward move can continue on the equity indices across Wall Street.

Outside of this we’ll be looking at the contribution both Apple and Coinbase will make to the start today after their respective earnings on Thursday evening.

(Video summary)

In this edition of "Beat the Street", host Jeremy Naylor talks about what's happening in the US stock market and gives some important updates.

He covers topics like the number of jobs created, how well Apple is doing, and the performance of Coinbase. Jeremy also mentions that the US 10-year Treasury yield is at a three-week low, which affects the stock market.

US jobs

Breaking news reveals that the number of jobs created is lower than expected. Instead of 180,000 jobs, only 150,000 were created. But don't worry, this is still good news because it shows that the economy is not being harmed by the rise in interest rates. The unemployment rate has also increased a bit, but that's because they calculate it differently now. Average hourly earnings have also gone down a bit.

The euro is doing really well against the US dollar. In fact, it's at its highest level since September 20th. This means that the U.S. dollar is not strong right now.

Earnings

The NASDAQ 100, which is a stock index, is also doing well and has reached its highest level since October 19th. So overall, the stock market is doing pretty good this week.

Jeremy also talk about Apple's earnings for the fourth quarter. They beat expectations, which is good. However, their overall sales have been declining for the past four quarters. The iPhone is doing okay, but other hardware products like the iPad and Mac are not doing so well. Despite this, Apple's shares are expected to go up.

Coinbase, a company that deals with cryptocurrency, had a smaller loss in the third quarter than expected. Their sales have also been better than expected. Their stock price has gone up a lot since they went public, even though the amount of trading they're doing has actually gone down.

Jeremy also mentions some other things like the price of crude oil going up and the price of gold going up.

The overall message is that the job numbers suggest that the US Federal Reserve might not raise interest rates anymore, which is good news for the stock market.


This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.

Start trading forex today

Trade the largest and most volatile financial market in the world.

  • Spreads start at just 0.6 points on EUR/USD
  • Analyse market movements with our essential selection of charts
  • Speculate from a range of platforms, including on mobile

Live prices on most popular markets

  • Forex
  • Shares
  • Indices

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.