JOLTS job openings 8.098M vs 7770M estimate

• Prior month 7.744M revised to 7.839M
• JOLTs job openings for November 8.098M vs 7.770M estimate.

Details

• Vacancy rate 4.8% versus 4.6% last month
• Quits rate 1.9% versus 1.8% last month.
• Hires 3.3% versus 3.3% last month
• Separations rate 3.2% versus 3.3% last month

Looking at the trend from the chart above, the JOLTS were probably overstated at the highs with companies competing for workers. There has been a steady decline but to higher levels from pre-pandemic.

So job openings are down, but to old high levels and now going higher. With the ISM data stronger than expectations as well, yields are moving higher:

• 2-year yield 4.316%, +4.4 basis points
• 5-year 4.480%, +6.0 basis points
• 10 year 4.689%, +7.3 basis points
• 30 year yield 4.911%, +7.4 basis points

The major stock indices are now getting hit with the NASDAQ index leading the way with the decline of -0.8%. The S&P index is down -0.34% and the Dow industrial average is down marginally by -0.06%. The small-cap Russell 2000 is trading down -0.55%.

Nvidia shares are now down -2.56% at $145.56 after trading as high as $153.13 – a new all-time intraday high level. Yesterday the shares of Nvidia close that record high closing levels.

This article was written by Greg Michalowski at www.forexlive.com.