- Asian markets fell as traders processed poor reports from chipmakers, which may portend a bigger slide in corporate profits. Uncertainty has also grown ahead of our monthly payroll data.
- The MSCI Asia Pacific Index fell for the first time in four days, with technology stocks leading the way. Samsung reported a profit decline for the first time since late 2019, highlighting the severity of a global PC and memory chip slowdown. After disappointing preliminary data, Advanced Micro Devices fell in late US trading.
- Following a second day of declines on Thursday, US stock contracts dipped lower, with the S&P 500 and tech-heavy Nasdaq 100 both ending near session lows. Treasury bonds and the US dollar were hardly altered.
- The September jobs report is expected to indicate that companies hired another 255,000 people. That would be the fewest jobs added in a month since a drop in late 2020, but it would still be a significant increase. The unemployment rate is expected to remain near a five-decade low of 3.7%, while average hourly wages are expected to rise further.
