
U.S. Treasury yields and stock indexes experienced fluctuations following the release of key economic data. On September 4, 2024, the U.S. Treasury yields edged lower after the S&P Manufacturing PMI data, with the 10-year yield down 6.5 basis points to 3.846%. The JOLTS Job Openings data, released at 10 AM ET, showed a slight decrease from the previous value of 8,184,000 to 8,100,000. Following this, U.S. stock indexes moved lower. However, later in the day, the S&P 500 and NASDAQ both rose by 0.4%, and the Dow increased by 0.6%. On September 5, 2024, the ADP Nonfarm Employment Change report for August showed weaker-than-expected results, with an increase of only 99,000 jobs compared to the expected 145,000 and the previous month's 111,000. Professional and business services saw the largest decline with a loss of 16,000 jobs, while education and health services experienced the largest increase with a gain of 29,000 jobs. This led to a fall in NASDAQ 100 futures and U.S. stock index futures. The 10-year Treasury yield fell to 3.747%, and the two-year Treasury yield dropped to 3.733%, the lowest since May 2023.


August ADP payrolls +99k vs. +145k est. & +111k in prior month … professional & business services with largest decline (-16k); education & health services with largest increase (+29k) https://t.co/6zFfle0O1m
In the trend of deteriorating labor data, ADP came in weaker than expected at 99K vs 144K. Small businesses saw some net layoffs as well in establishments of 20-49 employees. Shedding 12,000. Mid and large-sized companies were the largest creators of new jobs. https://t.co/M6NbkIzRcL
Weaker than expected results for ADP non-farm employment just now ---> actual coming in at 99k jobs when 145k jobs were expected and 122k jobs was the previous reading 😏