A small disappointment in the JOLTs report: 5.383 million against 5.5 expected. The quits rate is steady at 1.9% and the number of quits at 2.8 million, in line with previous months.
This does not change the picture for the Fed, especially after the solid Non-Farm Payrolls report on Friday.
The US JOLTs job openings was expected to tick down to 5.50 million in October from 5.526 million in September. Despite being a lagging indicator, it is important because the Fed says so: it provides a wider measure of the job market. The quits measure is of importance as it reflects confidence.
The US dollar was showing strength against commodity currencies and against the pound but not against the euro nor against the yen.
the IBD/TIPP optimism index came out better than expected at 47.2 points.
The fall in oil prices is the main theme today in markets.
