Markets on Edge: Anticipating U.S. Jobs Data and Fed Moves

Asian markets showed cautious movement as U.S. Treasury yields peaked near three-month highs, ahead of vital U.S. jobs data and policy decisions. Investors monitored economic indicators closely, with significant reactions in tech stocks and commodities like oil and gold amid geopolitical tensions and potential rate cuts.

Asian markets began the month with caution as shares mostly fell and Treasury yields approached three-month highs. Investors are keenly awaiting U.S. jobs data, especially with a Federal Reserve rate cut anticipated. This news comes just before the crucial U.S. presidential election and a key Fed policy meeting.

Following a selloff, Nasdaq futures rebounded, buoyed by Amazon's impressive post-bell performance, which boosted its market cap by $104 billion. Intel's surprising revenue projections also provided a lift, enhancing European markets slightly. Meanwhile, Japan's exporters faced challenges due to the yen's strength.

In broader Asian markets, gains in Chinese stocks helped elevate the MSCI index, although concerns persisted. Oil prices extended their rally amid geopolitical tensions, while fluctuating exchange rates and inflation forecasts kept investors cautious. Anticipation is building around U.S. jobs figures, with differing job growth predictions contributing to an uncertain market outlook.

(With inputs from agencies.)