Crypto investors inferred more from an unexpectedly torrid ADP private sector jobs report and surprisingly robust ISM Services Index than a softer job opening survey.
Markets have become increasingly hopeful that the U.S. Securities and Exchange Commission , will reverse its pattern of rejecting the applications by some of the world's most prominent financial services firms. But on Thursday, concerns about economic growth, a precursor to inflation, trumped any euphoria.
Investors were less impressed by May's Job Openings and Labor Turnover Survey report, which showed job vacancies sinking to 9.82 million, down from an upwardly revised 10.3 million in April. Asia equity markets were down in early trading, with the Hang Seng and Nikkei off about 1% and 0.5%, respectively. They followed declines in U.S. indexes with the tech-focused Nasdaq and S&P 500 both sinking 0.8%. Meanwhile, yields on 2- and 10-year U.S. Treasurys both rose, and safe haven gold edged up.
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