A sharp recovery in U.S. employment has been reported, raising the possibility that concerns about additional Fed rate hikes could resurface. Spot gold has fallen below $4,400, putting market focus on interest rates and the performance of risk assets.
The August U.S. jobs report significantly exceeded market expectations, with nonfarm payrolls increasing by 162,000 from the previous month and the July figure revised upward by 21,000. The increase in employment is viewed less as a broad-based recovery than as a rebound from July's decline. Growth was particularly notable in food services and drinking places and local government education, while declines in the information sector continued. The report's impact on the Federal Reserve's monetary policy decisions is drawing attention, and analysts have pointed to the possibility of a renewed hawkish view.
Spot gold prices fell below $4,400, prompting close observation of their response to interest-rate trends and the fight against inflation. Equity markets shifted in response to the strength of the jobs report, with particular attention focused on gold- and metals-related assets.
NHTSA, the National Highway Traffic Safety Administration, began an audit covering approximately 1,000 Tesla Cybercabs. The audit is intended to verify the processes and data used when the vehicles claim compliance with federal motor vehicle safety standards. Tesla has indicated that it plans to expand its rollout in stages.
Satellite-imagery company Planet Labs raised its fiscal 2027 revenue forecast and indicated that it plans to continue expanding its data-center monitoring business. Assessments from several securities firms were generally positive, and the stock rose in morning trading.
lululemon athletica announced a second downward revision to its full-year earnings forecast, highlighting challenges ahead of the new CEO's appointment. The company remains under pressure to address declining margins on higher-priced products and measures to restore its brand image.