The SP500 and Nasdaq were set to ease from record levels at the opening on Thursday

The SP500 and Nasdaq were set to ease from record levels at the opening on Thursday

2020-09-03 • Updated

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Ichimoku Kinko Hyo

EUR/JPY: The EUR/JPY pair is now trading within the cloud. An upward wave would lead the exchange rate to exit the Kumo, confirming the bullish scenario.

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US Market View

The SP500 and Nasdaq were set to ease from record levels at the opening on Thursday as the tech rally is cooling and weekly jobless claims fueled worries about the US labor market.

The US monthly payrolls which are watched closely are set to come out on Friday.

Wall Street has rallied in recent weeks with the S&P 500 and Nasdaq hitting new closing highs, driven by the strength in tech-focused companies and unprecedented fiscal and monetary stimulus measures.

The Nasdaq has surged about 80% from its March 23 lows and the S&P 500 and Dow have gained about 60% from their lows. The blue-chip Dow needs to advance just about 2% to surpass its pre-crisis high hit in February.

The dollar’s bounce extended on Thursday as investors trimmed bets against the greenback and sold the euro on concerns that the European Central Bank was worried about its rise.

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