Asia-Pacific markets set to fall ahead of U.S. jobs report
The logo of the Tokyo Stock Exchange (TSE), operated by Japan Exchange Group Inc. (JPX), is displayed at the bourse in Tokyo, Japan, on Friday, Oct. 2, 2020.
Akio Kon | Bloomberg via Getty Images
Shares in the Asia-Pacific are poised to fall on Friday ahead of the monthly U.S. jobs report, which is likely to guide the Federal Reserve’s monetary decision in November.
Payrolls are expected to increase 275,000 in September, and unemployment is predicted to be steady at 3.7%, according to economists surveyed by Dow Jones.
The Nikkei futures contract in Chicago was at 27,005 while its counterpart in Osaka was at 27,000. That’s lower compared against the Nikkei 225’s last close at 27,311.30.
In Australia, the S&P/ASX 200 fell 0.65%. Markets in mainland China remain closed for a holiday.
Overnight in the U.S., major indexes fell — the Dow Jones Industrial Average shed 346.93 points, or 1.15%, to 29,926.94. The S&P 500 declined 1.02% to 3,744.52, while the Nasdaq Composite was 0.68% lower at 11,073.31.
“Equities struggled as markets await the much-anticipated U.S. payrolls data … and as comments from Fed officials maintained a ‘more is needed’ vibe,” ANZ Research analysts wrote in a Friday note.
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