JOLTs Job Openings Drop To 8.06 Million, Missing Analyst Expectations

On June 4, 2024, U.S. released JOLTs Job Openings report for April. The report indicated that JOLTs Job Openings declined from 8.49 million in March to 8.06 million in April, compared to analyst consensus of 8.34 million.

Today, traders also had a chance to take a look at the Factory Orders report for April. The report indicated that Factory Orders increased by 0.7% month-over-month in April, compared to analyst consensus of +0.6%.

Factory Orders ex Transportation increased by 0.7%, while analysts expected that they would grow by 0.4%.

Treasury yields tested new lows as bond traders reacted to the weaker-than-expected JOLTs Job Openings report. The yield of 2-year Treasuries settled near the 4.77% level, while the yield of 10-year Treasuries pulled back below 4.35%.

U.S. Dollar Index settled near the 104.25 level as traders focused on the jobs report. Interestingly, the pullback in Treasury yields did not put any pressure on the American currency in today’s trading session.

Gold is losing ground amid a broad pullback in the precious metals markets. Currently, gold is trying to settle below the $2325 level.

SP500 remains under some pressure after the release of JOLTs Job Openings report. The index remains stuck near the 5270 level despite falling Treasury yields.

For a look at all of today’s economic events, check out our economic calendar.