U.S. index futures are little changed in pre-market trading on
Thursday amid a rocky start to September. Investors await key labor
market data, including jobless claims and the nonfarm payroll
report, which could influence the Federal Reserve’s upcoming
decisions.
At 5:16 AM, Dow Jones futures (DOWI:DJI) rose 45 points, or
0.11%. S&P 500 futures gained 0.03%, while Nasdaq-100 futures
dropped 0.13%. The 10-year Treasury yield stood at 3.767%.
Today’s U.S. economic agenda includes the ADP employment report
for July, forecasted at 140,000 new jobs at 8:15 AM, and initial
jobless claims for August 31, expected at 225,000. Additionally, at
8:30 AM, revisions on productivity (forecasted at 2.5%) and unit
labor costs (0.8%) for Q2 will be released. The ISM services index
for August, expected at 51.0%, will be announced at 10:00 AM.
In commodities markets, oil prices rose slightly after hitting
multi-month lows due to expectations that OPEC+ may delay its
planned production increase for October and a reduction in U.S.
stockpiles.
OPEC+ is reconsidering the 180,000-barrel-per-day increase
scheduled for October in response to falling prices and weak global
demand, particularly in China. Additionally, U.S. crude stockpiles
fell by 7.4 million barrels last week, exceeding expectations.
However, concerns persist over Chinese demand and economic
slowdown, limiting gains.
Citigroup warned that if OPEC+ doesn’t cut production further,
oil prices could fall to $60 per barrel by 2025 due to rising
supply and weaker demand. Without new cuts, confidence in OPEC+
could diminish, leading to even lower prices.
West Texas Intermediate crude for October rose 0.94% to $69.85
per barrel, while Brent for November gained 1.00% to $73.43 per
barrel.
Gold (PM:XAUUSD) rose to around $2,515.52 an ounce as investors
awaited U.S. labor data that could influence the next cycle of
Federal Reserve rate cuts. Expectations of cuts have recently
supported gold, despite stock market volatility heightened by a
cooling labor market.
Iron ore fell to its lowest value since 2022 after the China
Iron & Steel Association warned mills to be cautious about
increasing production. Steel demand remains weak due to China’s
real estate crisis, pressuring ore prices. The most-traded January
iron ore contract on China’s Dalian Commodity Exchange (DCE) ended
the daytime session down 2.58%, at $95.58 per metric ton.
Asia-Pacific markets closed mixed on Thursday. Japan’s Nikkei
225 fell 1.05%, pressured by weaker wage data, while Hong Kong’s
Hang Seng dropped 0.24% in the final hour of trading. South Korea’s
Kospi declined 0.21%. On the other hand, Australia’s S&P/ASX
200 rose 0.4%, driven by strong export figures. China’s CSI 300
gained 0.17%, with expectations of interest rate cuts for the real
estate sector.
Asian investors are expected to sell up to $500 billion in U.S.
dollars next year, further pressuring the currency, according to
Bloomberg. This movement is driven by large dollar deposits and low
hedging, with Japanese insurers reducing their currency
coverage.
In Japan, inflation-adjusted wages rose 0.4% in July, driven by
summer bonuses, following a 1.1% increase in June. The slowdown is
due to fewer companies paying bonuses. Real wage growth depends on
regular wage increases, while inflation is expected to remain close
to the 2% target.
In China, shares of developers like China Vanke rose on optimism
about potential rate cuts to support the real estate sector.
Chinese regulators are considering reducing interest rates by up to
$5.3 trillion to ease pressure on the banking sector.
In Australia, the government proposed guidelines to protect
high-risk AI research and development, including significant human
oversight and clear labeling of AI-generated content. The
guidelines, released by Minister Ed Husic, will initially be
voluntary and could become mandatory after consultations. AI could
contribute up to $77.2 billion to the economy by 2030.
In July, the country’s exports rose 0.7% month-on-month, while
imports fell 0.8% compared to the previous month.
The Reserve Bank of Australia (RBA) highlighted that it is too
early to consider interest rate cuts as inflation remains high.
Despite a weak economy and overall inflation falling to 3.5%, the
priority remains reducing inflation to the 2-3% target. The RBA has
held the interest rate at 4.35% since November.
European markets are showing mixed performance after three
consecutive declines, following last week’s record. Sectors are
diverging: utilities are up, while the chemical sector is down.
Germany’s largest union, IG Metall, is open to discussing a
shorter workweek for Volkswagen AG (TG:VOW3) employees as an
alternative to proposed factory closures. Union leader Christiane
Benner expressed willingness to negotiate to avoid strikes and
maintain job security.
On Wednesday, U.S. stocks fluctuated near flat after Tuesday’s
selloff. The Dow Jones rose 0.09%, while the S&P 500 fell
0.16%, and the Nasdaq dropped 0.30%. The market reflected ongoing
economic uncertainty, with persistent concerns following weak
manufacturing data and a decline in job openings, keeping attention
on the possibility of a Federal Reserve rate cut in September.
Additionally, the Labor Department reported a drop in job
openings to 7.67 million in July, below expectations of 8.10
million. Among individual stocks, shares of US Steel (NYSE:X) fell
17.5% yesterday after news that Joe Biden is expected to block the
company’s $14.1 billion acquisition by Nippon Steel, impacting jobs
and the local economy.
Before the market opens, quarterly reports are expected from
NIO (NYSE:NIO), FuelCell
Energy (NASDAQ:FCEL), Toro (NYSE:TTC), SAIC (NASDAQ:SAIC), Lands’
End (NASDAQ:LE), G-III Apparel
Group (NASDAQ:GIII), Korn
Ferry (NYSE:KFY), Methode
Electronics (NYSE:MEI), Movado
Group (NYSE:MOV), and Shoe
Carnival (NASDAQ:SCVL).
After the market closes, numbers are expected from
Broadcom (NASDAQ:AVGO), UiPath (NYSE:PATH), Samsara (NYSE:IOT), DocuSign (NASDAQ:DOCU), Planet
Labs (NYSE:PL), Braze (NASDAQ:BRZE), Quanex
Building Products (NYSE:NX), Zumiez
(NASDAQ:ZUMZ), Smartsheet (NYSE:SMAR),
and Tillys (NYSE:TLYS).
G III Apparel (NASDAQ:GIII)
Gráfico Histórico do Ativo
De Dez 2024 até Jan 2025
G III Apparel (NASDAQ:GIII)
Gráfico Histórico do Ativo
De Jan 2024 até Jan 2025
