Stock futures move lower on November jobs report

Yahoo Finance’s Jared Blikre breaks down how stocks are trading following the November jobs report.

Video Transcript

[AUDIO LOGO]

BRAD SMITH: I wanted to get on over to Yahoo Finance's Jared Blikre, who's standing by. We've got a big move that's taking place in reaction in the futures here. Jared, what are you seeing?

JARED BLIKRE: That's right. The Dow futures now off about 400 points. More than that right now. You can see on the intraday or intranight price action. This is since midnight, really taking a dive here on that report.

Let's check out the NASDAQ, which is now down more than that. Basically, double the Dow, down 2 and 1/4%. Very similar chart right there.

And let's just check in on what some of the other markets and the futures are doing. Gold took a little bit of a dive here. You can see now it had been in the green. Now, in the red for about 1%. Interestingly, it had perked up over the last few days.

So gold, a lot of people pointing to the fact that it could be on the verge of a breakout while it's breaking out here. That has been on a decline in real rates. But that may be reversing right now.

So let's take a look at some of the currency action as well. And in particular, I want to check out the euro because that has been fluctuating around some key levels here. And let me put this on an intraday basis. And you would expect-- yeah, we see the euro weakening and the dollar strengthening on the move.

That's as people believe the Fed's longer-- or higher for longer or at least staying the course for a little bit longer. I think that hot wage growth number really putting a damper on equities here.

And a little bit tongue and cheek, we've got to take-- check out Bitcoin because Bitcoin has been highly levered to a lot of these economic reports and what the central banks may be doing. Not a lot of action right there.

So I'm gonna round this out with a look at copper futures. And then finally, we can see copper heading down as well.

And just want to get a check on the interest rate situation. 10-year Treasury note futures really selling off right now, which means interest rates are rising. So a little bit of a hot report there, especially in terms of that wage number, guys.