JOLTs Job Openings Drop To 8.18 Million, Exceeding Analyst Expectations

On July 30, 2024, U.S. released JOLTs Job Openings report for June. The report indicated that JOLTs Job Openings declined from 8.23 million in May to 8.18 million in June, compared to analyst consensus of 8 million.

Today, traders also had a chance to take a look at CB Consumer Confidence report for July. The report showed that CB Consumer Confidence increased from 97.8 in June to 100.3 in July, compared to analyst consensus of 97.8.

The Present Situation Index decreased from 135.3 to 133.6, while the Expectations Index improved from 72.8 to 78.2. Numbers below the 80 level usually signal a recession ahead.

The Conference Board commented: “Even though consumers remain relatively positive about the labor market, they still appear to be concerned about elevated prices and interest rates, and uncertainty about the future; things that may not improve until next year.”

U.S. Dollar Index settled near the 104.75 level as traders reacted to JOLTs Job Openings and CB Consumer Confidence report. U.S. Dollar Index continues to move higher ahead of the Fed decision, which will be released tomorrow.

Gold  gained ground despite stronger dollar as traders focused on the pullback in Treasury yields.

SP500  pulled back towards the 5470 level as traders focused on economic repors. From a big picture point of view, stock traders may stay cautious ahead of the Fed decision.

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