Asian stocks rally.

Asian stocks climbed on Monday, led by a sharp rebound in chipmakers as renewed optimism around artificial intelligence lifted technology shares, while higher oil prices and stronger-than-expected U.S. jobs data kept rate-hike concerns in view.

The gains followed a mixed session on Wall Street on Friday, when most U.S. stocks fell after August payrolls rose by 162,000, beating expectations and strengthening the case for a more hawkish Federal Reserve.

U.S. markets are closed Monday for the Labor Day holiday, while U.S. stock-index futures trade on a holiday schedule, making liquidity thinner. In Asian trade, Nasdaq 100 futures and S&P 500 futures were little changed.

The jobs report was positive for the global-growth outlook but also reduced the Fed’s room to ease policy, putting Friday’s U.S. consumer price report in focus. The data could prove decisive for the September rate decision, while elevated Treasury yields continue to keep financial conditions tight.

The MSCI Asia Pacific index rose 1.1%, while the broader index excluding Japan gained about 0.9%. South Korea’s KOSPI jumped 3.4% and Japan’s Nikkei 225 rose 1.9%.

South Korea led gains as SK Hynix rose 6.1% and Samsung Electronics gained 4%. The rally followed strength in U.S. chip stocks after OpenAI unveiled GPT-6 Astra, reviving optimism around AI infrastructure demand.

 

Bitcoin slips below $80k.

Bitcoin slipped below the $80,000 level on Monday as stronger-than-expected U.S. jobs data revived bets on a Federal Reserve interest-rate hike this month, while elevated oil prices amid escalating U.S.-Iran tensions added to pressure on risk assets.

Bitcoin was trading at $79,724.8 by 01:01 ET (05:01 GMT), down about 0.3% on the day.

Bitcoin had briefly climbed above $82,000 last week, reaching a more than three-month high of about $82,178.6 on Thursday, before retreating after Friday’s U.S. employment report.

Data on Friday showed that U.S. employers added 162,000 jobs in August, nearly triple economists’ expectations, while the unemployment rate held at 4.1%.

 

Gold holds near $4,400.

Gold prices held near $4,400 an ounce on Monday, as stronger than expected U.S. payrolls and renewed tensions around the Strait of Hormuz raised expectations for a Federal Reserve rate hike as early as next week.

At 20:48 ET (00:48 GMT), XAU/USD largely traded flat at $4,426.93 an ounce, while Gold Futures slipped marginally to $4,473.66. XAG/USD rose 0.2% to $66.37 an ounce, while XPT/USD fell 0.5% to $1,813.77. The US Dollar Index fell 0.2% to 99.09.

Strong payrolls keep Fed hike bets elevated

U.S. employers added 162,000 jobs in August, topping expectations, while the unemployment rate held steady. The stronger labor market reading bolstered the case for the Federal Reserve to raise interest rates at its September 15 to 16 meeting.

Markets are now pricing about a 60% probability of a September rate hike. When rates rise, income generating assets become more attractive relative to holding the metal.

The dollar also strengthened on Friday, adding another headwind for gold because a stronger greenback makes dollar priced bullion more expensive for buyers using other currencies.

The latest move follows a volatile week. Gold finished last week little changed at $4,429, down 0.6%, after trading on both sides of $4,400 as investors repeatedly adjusted their expectations for Fed policy.

Investors now turn to U.S. consumer price data due later this week, which could provide another important signal for the Fed’s rate decision.

 

 

 

 

 

 

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