Highly anticipated job report out today

US Pre-Market

Futures: The S&P 500 is down 0.16%, the Dow Jones Industrial Average is down 0.05%, and the Nasdaq 100 is down 0.50%.
Stock futures remained flat Wednesday evening as Wall Street aims to regain momentum following a rough start to September. Today’s important labor market data will be closely watched as it could provide more clarity on the pace of the September rate cut.
From a technical standpoint, the SPY formed a red candle, touching the 50-day EMA at 547.13 on the daily chart, still indicating a tug-of-war between buyers and sellers throughout the day. Today's jobs report could determine whether we see further declines towards the gap fill at 545.41 or if the bulls push the ETF higher, potentially breaking through the 550 level.

Cryptocurrency Market

Bitcoin (BTCUSD) fell to $55,643 during Thursday trading. Since then, it has rebounded, but the crypto market sentiment has shifted into "extreme fear."On September 6, the Crypto Fear & Greed Index — a tool measuring market sentiment with a maximum score of 100 — hit a low of 22, signaling "extreme fear," a seven-point decrease from the previous day's "fear" rating. BitMEX co-founder Arthur Hayes has predicted that Bitcoin could drop another 12%, potentially falling below $50,000 over the weekend.
Watchlist: Bitcoin: 55 550-58 000Ethereum: 2300-2560, Solana: 122 -136.50

Forex Market

The yen strengthened on positive economic data and speculation of a potential Bank of Japan rate hike. Meanwhile, EUR/USD marked its second consecutive day of gains on Thursday, reclaiming the 1.1100 level as widespread selling of the US dollar continued ahead of Friday's highly anticipated Nonfarm Payrolls (NFP) report.
The yen continued strengthening, getting closer to breaking the year's low, and the 142.80 level remains a support.
Whatchlits: EUR/USD: 1.1027-1.1.080, USD/JPY: 142.8 -145

Basic Materials

Gold remained steady above $2,500 an ounce, supported by the recent U.S. jobs report ahead of additional data expected later today. Meanwhile, oil prices are hovering at a 14-month low as concerns over demand overshadow a significant U.S. storage drawdown. China’s steel crisis has pushed iron ore to its worst weekly performance since March.
The daily chart of USOIL fell slightly, and the bearish sentiment still seems valid. The next support is at 2023, and the last low is at 67.90.
Watchlist: GOLD 2467-2533 Crude Oil: 68.7-70.00

The TEFS Analyst team wishes you a successful day!