JOLTs job openings for August 10.053M vs. 10.775M est. Largest one month drop on record

• Prior month 11.239M
• Job openings 10.05M vs 10.775M est. First time under 11M since September 2021.This was the largest one month drop on record
• job openings -6.2%
• hires were little change at 6.3 million. The rate was unchanged at 4.1%
• total separations including quips, layoffs, and discharges and other separations were also little change at 6.0 million
• Quits rate unchanged at 4.2 million. The quit rate is a measure of workers willingness or ability to leave jobs.
• layoffs were also little changed
• For the job openings, the largest decreases were in healthcare and social assistance, -236K, and other services -183K and retail trade -143K,

Bad news is good news and with the jolts job data showing the biggest monthly decline on record, a softening in the jobs picture is what the Fed wants to see.

• Dow industrial average is up 745 points or 2.52% at 30231.75
• S&P index is up 103.77 points or 2.82% at 3782.85
• NASDAQ index is up 360.86 points or 3.34% at 11176.30. The NASDAQ has moved above its 200 week moving average at 11130 (see video from yesterday HERE).
• Russell 2000 is up 55.72 points or 3.26% at 1764.59

in the US debt market:

• 2 year yield 4.05%, -4 point basis points
• 10 year yield 3.579%, -7.2 basis points
• 30 year 3.658%, -4 point basis points

In the forex,

• the EURUSD is trading to a new session high and is trading above its 200 bar moving average on the 4 hour chart at 0.99254. The next key target comes in at the parity level.
• The USDCHF is trading below its 200 and 100 hour moving averages at 0.98468 and 0.98349 respectively.
• The USDJPY is trading below its 100 hour moving average 144.605

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