[US market conditions]Stocks continue to fall, interest rate hikes continue to be observed in employment statistics-10-year bond yields in the 3% range-Bloomberg

The US financial market on the 6th continued to move wildly from the previous day, and the stock market continued to fall. Employment statistics have strengthened the view that financial authorities will maintain the current rate hike policy as a measure against inflation, and sales have continued.

Rough price movements were conspicuous ahead of the weekend, and while the development was nervous, the S & P 500 stock index could not maintain the positive range and dropped to the lowest price in about a year. It fell for the fifth straight week, marking the long-term downturn since June 2011.

S & P 500 species are 4123.34, down 0.6% from the previous day. The Dow Jones Industrial Average is down $ 98.60 (0.3%) to $ 32899.37. The Nasdaq Composite Index fell 1.4%.

Yield curves are getting steeper in the US Treasury market. Yields on 10-year bonds remained above 3%. As of 4:19 pm New York time, 10-year bond yields have risen 9 basis points (bp, 1bp = 0.01%) to 3.13%.

The number of non-farm payrolls increased by 428,000 from the previous month. However, the decline in the labor force participation rate may force employers to raise wages again in the future. It is likely that the US financial authorities’ response to high inflation will become more complicated.

US Employment Statistics: April Employment Increases 428,000-Wage Growth Slows

Kashkari suggests that the employment market will be tolerated even if it slows down a little

In the foreign exchange market, the dollar index, which rose sharply the day before, continued to grow slightly. The background is the rise in US long-term bond yields. The dollar against the yen has risen for nine consecutive weeks, the longest consecutive rise since 2013.

The Bloomberg Dollar Spot Index, which shows the movement of the dollar against the 10 major currencies, rose 0.2%. As of 4:19 pm New York time, the dollar is up 0.3% against the yen to 1 dollar = 130.58 yen. The euro is less than 0.1% higher against the dollar at 1 euro = 1.0544 dollars.

The New York crude oil futures market continued to grow for three business days, reaching a six-week high at the closing price. The European Union (EU) has moved to embargo Russian crude oil, suggesting a tighter market supply and demand. Crude oil is on a weekly basis, rising for the first time in two months for two consecutive weeks.

The EU plans to phase out imports of Russian crude oil over the next six months and ban petroleum products by the end of the year.

EU amends Russia’s oil embargo-time grace to three countries including Hungary

The June contract for West Texas Intermediate (WTI) futures on the New York Mercantile Exchange (NYMEX) ends at $ 109.77 a barrel, up $ 1.51 (1.4%) from the previous day. Weekly price increase of 4.9%. The July contract for the North Sea Brent of the London ICE ended at $ 112.39, up $ 1.49 from the previous day.

New York gold prices are rising. Employment statistics have suggested that wage growth will slow and monetary authorities will not be encouraged to accelerate the tightening pace in the next few meetings.

However, gold has fallen for the longest three consecutive weeks since December last year on a weekly basis. Inflation concerns have increased and US Treasury yields have risen.