NY Indices Drop Before Job JOLTs Data In The U.S.; Market Analysis And Impact On Employment Data.

Written by Paulo Nogueira

Published on 05/12/2023 at 07:14

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The **employment data** in the US is in the spotlight this Tuesday (5), with US futures indices operating lower. The market is awaiting the release of the JOLTS report, which will provide job vacancy numbers, and is also keeping an eye on non-farm payroll data, to be released on Friday (8). Resilience in any of these fronts could reduce bets on interest rate cuts by the Federal Reserve (Fed) early next year.

Investors are anticipating next week’s meeting, where they expect the Fed to keep rates unchanged. According to the CME Group’s FedWatch tool, interest rate futures suggest a 58% probability that the US central bank will start cutting rates by March 2024. The **job vacancy numbers** and **job indices** will continue to be closely monitored by the market in the coming weeks.

1.Global Markets

The performance of Asian markets was marked by widespread declines, influenced by the assessment of a range of economic data from the region. The Hang Seng index in Hong Kong fell 1.91%, reaching its lowest level since November 2022. However, the CSI 300 index from mainland China had a similar outcome, dropping 1.9% to close at 3,394.26 points, hitting a four-year low.

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2. Agenda

This Tuesday’s schedule highlights the Gross Domestic Product (GDP) for the third quarter in Brazil, which will be released by the Brazilian Institute of Geography and Statistics (IBGE) at 9 AM. Additionally, the publication of the Leading Employment Indicator from Fundação Getúlio Vargas (FGV) and data on monetary policy and credit operations by the Central Bank is also awaited. At the same time, the Composite PMI Index from IHS Markit will also be released.

3. Economic News

This Tuesday, the Chamber’s Constitution and Justice Committee (CCJ) is set to discuss a proposed amendment to the Constitution (PEC) aimed at reducing the weekly working hours from 44 to 36 hours. The analysis of the constitutionality of the text is the starting point for the legislative proposal’s progression. Meanwhile, Minister Luiz Fux of the Supreme Court (STF) authorized the opening of an investigation into federal deputy André Janones (Avante-MG) for the crimes of criminal association and embezzlement, following a request from the Attorney General’s Office (PGR). The investigation aims to clarify the practice known as ‘rachadinha’ by the parliamentarian, according to reports submitted by opposition politicians and reported in news articles.

4. Political News

Luís Roberto Barroso, president of the Supreme Court (STF), emphasized on Monday (4) that the Court decides on issues that divide society in accordance with the Constitution, highlighting the independence of the court in this function. Still in the political realm, the Constitution and Justice Committee (CCJ) of the Chamber will review a proposal aimed at reducing the weekly working hours from 44 to 36 hours, requiring a period of 10 years to come into effect if approved.

5. Corporate Radar

In the corporate sector, Eletrobras signed a contract with Infraestrutura Brasil Holding XX, a company controlled by funds managed by Pátria Investimentos, for the sale of 49% of the capital stock of Chapada do Piauí Special Purpose Companies (SPEs). Another highlight is Serena, which launched operations for the Goodnight 1 wind project in Texas, its first venture in the largest energy market in the United States, Ercot. Finally, the Board of Directors of Pague Menos appointed Jonas Marques as the successor to Mário Queirós as Chief Executive Officer of the company, in a transition process set to take effect from 2024.

Source: Estadão, Reuters, and Agência Brasil

Source: Info Money

NY Indices Drop Before Job JOLTs Data In The U.S.; Market Analysis And Impact On Employment Data.

Service PMIs in the US and Brazil Are Anticipated by Investors, Along with Ore Prices, Tensions in the Middle East, and ORAN Technology.

1.Global Markets

2. Agenda

3. Economic News

4. Political News

5. Corporate Radar

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Australia prepares to dredge 96.5 million m³ in Moreton Bay to deepen, widen, and realign channels of the Port of Brisbane, in a project of up to 25 years designed to accommodate larger ships and enhance maritime safety and regional port efficiency.

A robot named Walter does the work of five bricklayers per hour and can save the construction industry, where the average age of professionals is 46 years and almost no one wants to learn the trade anymore, in the United Kingdom.

Spain installs two giant pipelines 2.2 km off the coast to draw water from the Mediterranean and supply a megafacility capable of producing 200 million liters of drinking water per day.

Forget common renewable energy: HydroWing prepares a 10 MW project in Indonesia to transform ocean currents into predictable electricity, using turbines installed on the seabed in a region where the funnel effect between islands increases tidal potential.

While most dealerships in Brazil take days to deliver cars, in Germany two 48-meter glass towers hold 800 vehicles and release each model via automatic elevators in a few seconds.

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NY Indices Drop Before Job JOLTs Data In The U.S.; Market Analysis And Impact On Employment Data.

Service PMIs in the US and Brazil Are Anticipated by Investors, Along with Ore Prices, Tensions in the Middle East, and ORAN Technology.

1.Global Markets

2. Agenda

3. Economic News

4. Political News

5. Corporate Radar

With billions in loans, China is rebuilding Nigeria’s railway network from scratch, abandoning the British colonial tracks that have turned to scrap and creating a corridor of over 1,300 km to take the load off the roads of Africa’s largest economy.

Forget petroleum-based asphalt: a Scottish company transforms 684,000 plastic bottles into one kilometer of road that is 60% more resistant and up to 10 times more durable, and the technology has already started replacing traditional asphalt in more than 30 countries.

Austrian engineers have developed an inflatable concrete technology that transforms flat slabs into domes using only air pressure, eliminating scaffolding and temporary forms, and potentially changing the way bridges, tunnels, and curved roofs are constructed worldwide.

China is building an artificial island in the middle of the sea, covering 20 km², to construct the largest offshore airport in the world, the Dalian Jinzhouwan. This $4.3 billion project is anchored on more than 3,000 pillars embedded in the rock beneath the ocean and is scheduled to open in 2035.

Australia prepares to dredge 96.5 million m³ in Moreton Bay to deepen, widen, and realign channels of the Port of Brisbane, in a project of up to 25 years designed to accommodate larger ships and enhance maritime safety and regional port efficiency.

A robot named Walter does the work of five bricklayers per hour and can save the construction industry, where the average age of professionals is 46 years and almost no one wants to learn the trade anymore, in the United Kingdom.

Spain installs two giant pipelines 2.2 km off the coast to draw water from the Mediterranean and supply a megafacility capable of producing 200 million liters of drinking water per day.

Farmer drills well in Ceará in search of water, accidentally finds crude oil and sees million-dollar discovery hindered by a rule that completely changes the future of the site.

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Forget common renewable energy: HydroWing prepares a 10 MW project in Indonesia to transform ocean currents into predictable electricity, using turbines installed on the seabed in a region where the funnel effect between islands increases tidal potential.

While most dealerships in Brazil take days to deliver cars, in Germany two 48-meter glass towers hold 800 vehicles and release each model via automatic elevators in a few seconds.

Goodbye to workers assembling rebar on construction sites: intelligent robot carries and positions more than 2.2 tons of rebar per hour, ties 1,200 intersections per hour, and promises to cut up to 50% of the schedule in bridge construction projects.

End of bricklayers laying brick by brick: robot places more than 2,000 bricks per day, automatically applies cement, works with only one human operator next to the machine, and transforms traditional masonry into a high-speed semi-automated operation.

In Japan, a 40 by 60-meter concrete museum without pillars rises like a floating drop, allowing wind, light, and rain inside the space and surprising architects and engineers with the delicacy of the structure.