🚨 Markets are focused on the October NFP report, with forecasts calling for 65,000 jobs added, up from 29,000 in September; the unemployment rate is expected to hold at 4.2%, while average hourly earnings are forecast to rise 0.3% month over month and 2.9% year over year. Earlier, ADP reported that the private sector added 86,000 jobs, while wages for workers changing jobs rose 4.8%. The Fed held interest rates at 3.75–4.00%, but markets are pricing in an 82% chance of a rate hike in December. If NFP beats expectations, bond yields could rise, putting pressure on gold and tech stocks, especially AI-related stocks. Conversely, weak data could heighten recession concerns and weigh on the corporate earnings outlook, but would support gold.

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