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Here are five things to know for Friday, October 5th:
1. – Lower inventories, higher bond yields before the report on employment
US equity futures were down on Friday, October 5, while government bond yields around the world continued to rise, as investors prepared for the release of the US employment report. United States for September.
Fed Chairman Jerome Powell's comments this week, along with US economic data confirming both robust economic growth and a tight labor market, have forced investors to upgrade the "risk-free" rate of corporate bonds. US Treasury and the trillions of assets tied to them in markets around the world.
Movements lifted 10-year US Treasury yields to 3.23% – the highest level in seven years – and strengthened the value of the dollar in international currency markets. Movements also reduced inventories on Thursday, October 4, their worst session since June 25.
Dow Jones Industrial Average contracts on Friday dropped 27 points, S & P 500 futures lost 3.25 and Nasdaq futures dropped 19.50.
2. – The United States should create 183,000 additional jobs in September
The report on nonagricultural wages for September is the culmination of the US economic calendar for Friday.
Economists expect the United States to create 183,000 additional jobs in September, up from 201,000 in August, and the unemployment rate to rise from 3.9% to 3.8%. Average hourly earnings are expected to increase by 0.3% and the year-on-year rate should rise from 2.9% to 2.8%.
The calendar also includes international trade for August at 8.30am.
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3. – Elon Musk makes fun of the SEC
A tweet from Elon Musk official Twitter account appears to have insulted the Securities and Exchange Commission just days after the erratic CEO of Tesla Inc. (TSLA) settled the deal with the agency about his famous "go-private" tweets.
The last tweet reads as follows:
I just want the Short Dealer Enrichment Commission to do an incredible job. And the change of name is so timely!
– Elon Musk (@elonmusk) October 4, 2018
Tesla shares fell 2.4% in pre-market trading on Thursday after falling 4.4% in the massive sell-off on Thursday.
Tesla did not respond to a confirmation request that the tweet really came from Musk. As part of the settlement with the SEC, which took place last weekend, Tesla needs to put in place a system of supervision of Musk's communications with investors.
4. – Lenovo Sinks on the history of spying Chinese chips
The Chinese notebook manufacturer Lenovo Group Ltd. (LNVGY) lost 15% in Hong Kong on Friday, following a Bloomberg report that the Chinese military reportedly attempted to insert spy chips on the motherboards. servers used by many American companies, such as Amazon. com Inc. (AMZN) and Apple Inc. (AAPL).
Amazon and Apple have each published answers in which they have refuted parts of the Bloomberg story.
According to Bloomberg, members of the Chinese army have used facilities managed by manufacturing subcontractors working for San Jose-based Super Micro Computer Inc. (SMCI) to insert tiny chips on motherboards. servers, to allow the server's operating system to communicate with the code and accept the code. a remote and anonymous computer.
Lenovo told CNBC that Super Micro was not a supplier of the company "to any capacity whatsoever".
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5. – Costco issues warning of "significant weakness"
Costco Wholesale Corp. (COST) fell 2.4% after normal trading hours after the warehouse retailer announced a fourth profit equal to analysts' estimates, but warned that it expected to announce "significant weakness" in its controls internal.
Costco said that "the weakness concerns the general controls of information technology in the areas of user access and program change management on some information technology systems. who support the company's financial reporting processes ".
Chief Financial Officer Richard Galanti told analysts that there was no indication that such access was misused or that financial errors were made, but "we should have fixed it." The company is doing it now, he added, the Seattle Times reported.
Costco stated that it did not find any anomalies in its financial reports. He added that he was still considering filing his annual financial report with the Securities and Exchange Commission as soon as possible.
The company said its net sales, excluding membership fees, reached $ 43.4 billion in the fourth quarter, up from $ 41.4 billion a year earlier. Online sales jumped 26.2% year-over-year.
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