-- US stocks and an index of the dollar fell ahead of jobs data due Friday that will help determine the size of a Federal Reserve rate cut this month.Madrid to Ban E-Scooter Rentals, Following Lead Set in Paris
The muted moves come ahead of a nonfarm payroll report that will cast fresh light on the health of the US jobs market. Traders are still pricing in over 100 basis points of easing this year, implying a potential super-sized reduction. Given Jerome Powell’s recent emphasis on the labor market, many on Wall Street say payrolls will dictate whether the central bank cuts by 25 or 50 basis points this month.
Markets will also be keeping a close eye on China’s bond market as some government debt the central bank bought recently is now being sold in the secondary market, according to traders - a possible sign that authorities are once again intervening to curb a debt rally.Meanwhile, Thailand’s parliament passed a 3.75 trillion baht budget allowing newly-appointed Prime Minister Paetongtarn Shinawatra to lift state spending to accelerate the nation’s economic recovery.
“Markets are still trying to figure out if the economy is slowing too much, and whether the Fed is behind the curve,” said Chris Larkin at E*Trade from Morgan Stanley. BRASILIA, Brazil — A judge in the Brazilian state of Rondonia has found two beef slaughterhouses guilty of buying cattle from a protected area of former rainforest in the Amazon. The companies Distriboi and Frigon, along with three cattle ranchers, were ordered to pay compensation for causing environmental damage, according to the decision issued Wednesday. Cattle raising drives Amazon deforestation. The defendants may appeal.
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