JOLTs Job Openings Drop To 7.192 Million; SP500 Rebounds From Session Lows
AdamSummary:
U.S. job openings fell to 7.192 million and consumer confidence dropped sharply, fueling hopes of a Fed rate cut. The SP500 rebounded, while the dollar and gold faced mixed reactions.
On April 29, 2025, the U.S. released JOLTs Job Openings report for March. The report indicated that JOLTs Job Openings declined from 7.480 million in February to 7.192 million in March, compared to analyst forecast of 7.48 million.
Today, traders also had a chance to take a look at CB Consumer Confidence report for April. The report showed that CB Consumer Confidence decreased from 92.9 to 86.0, compared to analyst consensus of 87.5.
Present Situation Index declined from 134.4 to 133.5, while Expectations Index dived from 66.9 to 54.4. The Expectations Index reached its lowest level since October 2011. Tariff uncertainty put significant pressure on consumers’ expectations, but the views on the present situation have been stable.
U.S. Dollar Index settled near the 99.10 level as traders reacted to the reports. U.S. dollar is trying to rebound after yesterday’s pullback, but weak job market data may put additional pressure on the American currency.
Gold made an attempt to settle below the $3300 level after the release of the reports. Gold traders continue to take profits near historic highs. At this point, gold needs additional positive catalysts to gain upside momentum.
SP500 tested the 5540 level as traders bet that weakness of the job market may force the Fed to cut rates despite inflation risks.
Source : fxempire
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