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First Call January 6, 2021
- S&P futures down 0.25%, while Nasdaq 100 futures off 1.4%, and Dow futures up 0.1%. US equities finished higher on Tuesday following a selloff to start 2021 on Monday.
- Terrible ADP jobs report loss of 123k jobs vs expectations of +75k and previous month of +307k
- Treasuries under pressure with the curve bear steepening.
- 10-year yields have pushed through 1% for the first time in more than nine months.
- The Dollar a bit firmer vs the yen but lagging euro and sterling.
- Gold down 0.3%, off some earlier strength.
- WTI crude up 0.5% after rallying nearly 5% on Tuesday on the back of Saudi Arabia's surprise production cut.