GLOBAL MARKETS 
DJIA         29926.94  -346.93  -1.15% 
Nasdaq       11073.31   -75.33  -0.68% 
S&P 500       3744.52   -38.76  -1.02% 
FTSE 100      6997.27   -55.35  -0.78% 
Nikkei Stock 27188.69  -122.61  -0.45% 
Hang Seng    17846.79  -165.36  -0.92% 
Kospi         2237.81    -0.05   0.00% 
SGX Nifty*   17271.00   -45     -0.26% 
*Oct contract 
 
USD/JPY  144.93-94  -0.14% 
Range    145.14   144.87 
EUR/USD  0.9810-13  +0.19% 
Range    0.9814   0.9787 
 
CBOT Wheat Dec $8.790 per bushel 
Spot Gold   $1,710.11/oz  -0.1% 
Nymex Crude (NY) $88.98   $1.22 
 
 
U.S. STOCKS 

U.S. stocks moved lower Thursday, stumbling again after a red-hot start to the week.

The S&P 500 fell 1%, or 38.76 points, to 3744.52. The Dow Jones Industrial Average declined 1.1%, or 346.93 points, to 29926.94. The tech-focused Nasdaq Composite slipped 0.7%, or 75.33 points, to 11073.31.

The S&P 500 had soared a combined 5.7% on Monday and Tuesday-its best two-day percentage gain since April 2020. But Wednesday's performance, when all three indexes finished lower, served as a reminder that rallies in 2022 are often fleeting.


 
 
ASIAN STOCKS 

Japanese stocks were lower, dragged by falls in tech and electronics stocks, as caution continues about the Fed's tightening ahead of U.S. jobs data. Investors were focusing on U.S. labor market data due later in the day and its implications for the central bank's policy. The Nikkei Stock Average was down 1.2% at 26982.58.

South Korea's benchmark Kospi was down 0.5% to 2226.73 in early trade, led by losses in index heavyweight Samsung Electronics and mobile internet stocks. Samsung Electronics' downbeat 3Q preliminary earnings forecast was weighing on sentiment. The stock was down 1.2%.

Hong Kong stocks declined in morning trade, continuing to pull back from a strong rebound earlier this week. The benchmark Hang Seng Index was down 0.9% at 17852.55. China Industrial Securities said that after a sharp upturn on Wednesday, the market was likely to consolidate at current levels. Whether the market can sustainably recover from a bearish situation would depend on improvement in external factors such as more moderate interest-rate increases by the Fed, China Industrial Securities added.

Markets in China are closed Friday for the National Day holiday.


FOREX 

Asian currencies were mixed versus USD ahead of the U.S. employment report due out later in the global day. Any underperformance in the report could provide markets with some breathing room before the FOMC minutes and the U.S. CPI data due out next week, IG said. Current expectations indicate job additions of 250,000, so any reading below 200,000 might be preferred by market bulls, IG added. USD/KRW rose 0.2% to 1,411.65, USD/JPY edged 0.1% lower to 145.02 and AUD/USD was up 0.2% at 0.6424.


METALS 

Gold edged lower in the morning Asian session, weighed by overnight hawkish remarks from Fed officials including Fed Gov. Lisa Cook. The precious metal appears to be entering a consolidation phase as market participants await the U.S. nonfarm payrolls report due out later today, Oanda said. If the report doesn't deliver any major surprises, gold could still be stuck in a range between $1,700/oz and $1,740/oz as traders will wait for next week's U.S. inflation report, Oanda added. Spot gold was down 0.1% at $1,710.11/oz.


OIL SUMMARY 

Oil edged higher in the early Asian session, supported by prospects of tight supply. This week's move by OPEC+ to reduce oil production could be a turning point, with this decision likely to further tighten the market, ANZ Research said in a report. The oil market was already facing a rarely seen series of supply disruptions, including European sanctions on Russian oil that will go into effect from December, it added. Front-month WTI crude oil futures were 0.2% higher at $88.61/bbl; front-month Brent crude oil futures rose 0.1% to $94.53/bbl.


 
 
TOP HEADLINES 
 
Fed Officials Say Stubborn Inflation Justifies Continued Rate Increases 
China's Forex Reserves Declined in September 
Japan's Foreign Reserves Fell at End September 
South Korea's Current Account Swung to Deficit in August 
Higher Australian Interest Rates Pushing Some Borrowers Closer to Default, RBA Says 
Samsung Expects Profits to Slump 
Rakuten Group: To Sell 20% Stake in Rakuten Securities to Mizuho for Y80.00B 
U.S. Takes Aim at OPEC for Oil Production Cuts 
European Leaders Hold Summit to Test Out a Larger Political Community 
IMF to Lower Global Growth Forecast 
Tesla Aims to Deliver First Semitrailer Trucks in December to Pepsi 
Twitter-Musk Judge Postpones Trial as Deal Talks Stall 
Celsius Executives Cashed Out $18 Million in Crypto Before Bankruptcy 
AMD Cuts Revenue Forecast 
Amazon to Hire 150,000 Workers Before Holiday Season 
Bank of Canada's Macklem Says 'More to Be Done' on Taming Inflation 
Nord Stream Pipeline Probe Adds Weight to Sabotage Suspicions 
U.N. Nuclear Agency Warns of Increased Risk at Ukraine's Largest Nuclear Plant 
U.N. Human Rights Council Rejects Holding Xinjiang Debate 
Trump Hasn't Returned All Documents, DOJ Officials Believe 
Donald Trump PAC Jumps Into Ohio, Pennsylvania Senate Races 
Iran Student Protests Pose Challenge to Raisi Government 
Karoon Energy Shares Surge on Royalty Rate Reduction 
 
 

(END) Dow Jones Newswires

10-06-22 2315ET