S&P 500 Index opens higher led by financial shares

Wall Street's main indexes started the last day of the week in the positive territory.
Nonfarm Payrolls in the US rose 1.37 million in August.
Financial shares post strong gains boosted by surging T-bond yields.

Eren Sengezer FXStreet

Following Thursday's heavy selloff, the S&P 500 Index (SPX) opened in the positive territory on Friday as the upbeat jobs report from the US provided a boost to market sentiment. As of writing, the SPX was up 0.5% on the day at 3,473. Meanwhile, the Dow Jones Industrial Average was gaining 0.7% on the day at 28,495 and the Nasdaq Composite was rising 0.42% at 11,821.

The monthly data published by the US Bureau of Labor Statistics revealed on Friday that Nonfarm Payrolls in August rose by 1.37 million, which was largely in line with the market expectation. Additionally, the Unemployment Rate declined to 8.4% from 10.2%.

Among the 11 major S&P 500 sectors, the Financials Index is up 1.5% on the day fueled by a more-than-6% increase in the 10-year US Treasury bond yield. On the other hand, the Communication Services Index is the only macro sector trading in the negative territory.

S&P 500 chart (daily)

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

EUR/USD turns negative toward 1.1500 ahead of ECB rate decision

EUR/USD has come under fresh selling pressure and heads toward 1.1500 in Thursday's European trading. Rising bets that the European Central Bank will deliver a rate hike after its June policy meeting could limit the Euro's retreat amid renewed US Dollar demand. The focus now remains on the ECB's updated projections and Lagarde's words.

GBP/USD falls to 1.3350, as traders brace for US PPI data

GBP/USD is falling back to near 1.3350 in the European session on Thursday. Increased hawkish Fed bets and looming Mideast geopolitical risks sponsor the latest leg up in the US Dollar, as traders brace for the US PPI data.

Gold sticks to modest recovery gains near $4,100; looks to US PPI

Gold holds mild recovery gains near the $4,100 region, managing to hold above the lowest level since November 2025. A softer Core US Consumer Price Index eased concerns about a runaway inflation spiral, weighing on the US Dollar and prompting some intraday short-covering around the precious metal. All eyes are now on the US PPI report.

Pi Network: Recovery at risk with 16 million PI tokens ready for unlock

Pi Network edges higher after three days of consecutive losses earlier this week, extending the prevailing downtrend since late April. The scheduled unlocking of 16 million PI tokens on Thursday could add pressure to the intraday recovery. Technically, PI remains under bearish pressure.

Indonesia surprise rate hike may not be enough to save the Rupiah

The surprise rate hike from Bank Indonesia, aimed at protecting the Indonesian Rupiah from sliding further, seems to have worked for now. The rate increase definitely helps, but there’s more work to do if Jakarta wants to ease investors’ concerns for good.

4.2% headline, 0.2% core: Why the Fed's next hike may be targeting the wrong problem

May's CPI put headline inflation at 4.2% on the year, up from 3.8% in April and the hottest reading since April 2023, while core prices rose just 0.2% on the month, undershooting the 0.3% consensus and halving April's pace.