JOLTs Job Openings Beat Expectations; SP500 Falls Below 5960

Today, traders also had a chance to take a look at the ISM Services PMI report for December. The report showed that ISM Services PMI increased from 52.1 in November to 54.1 in December, compared to analyst consensus of 53.3. Numbers above 50 show expansion.

New Orders index increased from 53.7 in November to 54.2 in December, while Business Activity index improved from 53.7 to 58.2.

The Institute for Supply Management commented: “Many industries noted that end-of-year and seasonal factors were helping drive business activity or impact inventory management.”

U.S. Dollar Index gained ground as traders reacted to better-than-expected reports. Currently, U.S. Dollar Index is trying to settle above the 108.50 level.

Gold pulled back from session highs as traders focused on U.S. dollar’s rebound. Treasury yields moved higher, putting additional pressure on gold markets.

SP500 found itself under pressure after the release of the reports as traders bet on hawkish Fed. Currently, SP500 is trying to settle below the 5960 level.