Financial markets remain cautious as they await U.S. employment data
Financial markets continue to navigate a wait-and-see phase which, between today and Friday—with the release of U.S. ADP employment data and PCE inflation figures—could either dissolve into a more optimistic climate or turn into a more risk-off scenario. Equities and bonds remain weak, gold continues to rise, and volatility is stable.
There is little to highlight in our intermarket dashboards. Market sentiment remains in neutral territory but is improving, reflecting the current pause in financial markets. Major asset classes remain oriented to the upside in the medium term, though with a noticeably more moderate momentum compared to a few months ago.
On the macroeconomic front, today brings the U.S. ADP employment report, the ISM Services Index, September U.S. industrial production and export price data, as well as updates on the Australian economy and the final November PMI survey results.
Our forward-looking analyses indicate an uncertain day for equity markets, with few clearly negative signals but many signs of hesitation. Uncertainty also prevails in the bond market, where only U.S. corporate bonds and long-term Treasury yields show positive signals. Commodities are mixed, and volatility remains stable.
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NOTES AND WARNINGS
Data compiled by kbmeter.com. Analysis date: 3 December 2025 - 7:09 AM GMT+1
This content is provided for informational purposes only and should not be considered financial advice. All scores and assessments are based on the previous trading day’s closing prices. Futures indications refer to the date and time of the analysis.
