Markets are looking to find their footing after a late-week beat down on disappointing tariff and jobs data. Equities are modestly higher along with gold and silver, while crude oil is down along with the dollar. Treasuries are up a bit.
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One reason markets are stabilizing is anticipation of cheaper money. One of the Federal Reserve’s governors, Adriana Kugler, resigned on Friday rather than serve until her term expired in January. That opens the door for President Trump to appoint someone more inclined to cut interest rates, though it’ll take some time for the process to play out.
Source: CME FedWatch
Following Friday’s lousy jobs data, the likelihood of a 25-basis point rate cut in September shot up. Rate futures markets are now pricing in about an 83% chance of a cut, versus 63% a week ago, according to CME FedWatch. The probabilities of one or more cuts in October and/or December have climbed, too.
Boeing Co. (BA) is facing more labor strife, this time at its defense aircraft division. Employees at its St. Louis-area factories make products like the F-15 fighter jet, and around 3,200 walked off the job early today after rejecting a retirement and wage hike deal. It’s the first strike for that union since 1996.
See also: Market Minute 8/1/25: Stocks Slide on Tariff, Job Woes
Lastly, another digital assets firm – the crypto exchange Bullish – is looking to go public. The firm said it wanted to sell 20.3 million shares in an Initial Public Offering (IPO) priced between $28 and $31. The $629 million planned offering follows other successful deals in recent weeks, including last week’s blockbuster Figma Inc. (FIG) IPO. Miami International Holdings, which operates the MIAX options, equities, and futures exchanges, also just filed for a $315 million IPO.
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