Asian markets will be watching the Reserve Bank of Australia’s rate decision, as well as China’s inflation data later this week.
Unemployment ticks up to 3.8% in August, average hourly wages rise less than expectedto 3.8% in August, while wages rose less than expected, the U.S. Department of Labor said Friday, signs of a slowing economy and easing pricing pressures.
Nonfarm payrolls grew by a seasonally adjusted 187,000 for the month, above the 170,000 expected by economists polled by Dow Jones. However, job numbers first reported for June and July were revised down by a combined 110,000.Traders are growing more confident the Federal Reserve could be done hiking rates this year after the August's unemployment rate suggested a cooling labor market.
"We believe ARM could launch its IPO roadshow as early as next week with a likely first day of trading before September 20th," Roth MKM said in a note.
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