Goldman Sachs estimates the U.S. economy shed 50,000 jobs in October, underscoring concerns that the labor market is beginning to soften after months of resilience.
The Dow Jones Industrial Average advanced on Monday, while the Nasdaq 100 slipped as Nvidia Corp. led declines following SoftBank Group’s sale of its stake in the chipmaker. Investors balanced optimism over the end of the U.S. government shutdown with worries about weakening employment momentum.
In early Tuesday trading, European and Asian stocks rose about 1%, though gains were capped by a lackluster session in the U.K. market. U.S. equity futures point to modest gains at the open.
Gold climbed 0.35% to $4,130 an ounce, supported by safe-haven demand, even as the dollar strengthened slightlyagainst both the euro and pound sterling.
All eyes are now on the release of October CPI data tomorrow, which could shape expectations for the Federal Reserve’s next policy moves.