LIVE MARKETS-US stock markets shuttered for day of mourning President Carter

Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com

U.S. STOCK MARKETS SHUTTERED FOR DAY OF MOURNING PRESIDENT CARTER

The New York Stock Exchange and Nasdaq are closed for trading Thursday to honor the life of former President Jimmy Carter.

There was an early close for U.S. stock futures, which posted modest losses. E-mini S&P 500 futures EScv1 dipped 0.24%.

Treasury yields eased on Thursday as traders evaluate the likely economic impact of policies proposed by the incoming administration of President-elect Donald Trump.

After hitting a high of 4.73% on Wednesday, the U.S. 10-Year Treasury yield US10YT=RR has retreated to around 4.68%. The yield has so far failed to punch above its 4.739% April 2024 high.

The U.S. bond market will close early at 1400 EST in honor of former President Jimmy Carter.

The U.S. dollar advanced for a third straight session as Treasury yields dipped but remained at elevated levels on concerns over tariffs under the incoming Trump administration, while sterling's recent weakness persisted.

Markets await the December nonfarm payroll report due at 0830 EST on Friday.

Expectations call for a headline jobs number of 160k vs a 227k print last month. The unemployment rate is expected to hold steady at 4.2% vs the prior month read.

Average hourly earnings month-over-month are forecast to rise 0.3% vs 0.4% last month. The year-over-year read is forecast to be 4.0% vs 4.0% last month.

While U.S. stock markets were closed on Thursday, investors and analysts were monitoring developments on deadly and destructive wildfires around Los Angeles.

Analysts at rating agencies and investment banks as well as other industry sources were estimating that the wildfires will rank among the most destructive in California’s history and possibly be the largest ever insured loss, with JP Morgan doubling its estimate to $20bn.

Here is a market snapshot on Thursday:

(Terence Gabriel, Sinéad Carew)

*****

FOR THURSDAY'S EARLIER LIVE MARKETS POSTS:

SHARE REPURCHASES: AN INCREASING TAILWIND FOR EUROPE - CLICK HERE

UK ROUT: BORN IN THE USA? - CLICK HERE

ROOM FOR U.S. EQUITIES AND CREDIT TO OUTPERFORM ON TARIFF NEWS - JPM - CLICK HERE

EUROPEAN SHARES STRUGGLE FOR DIRECTION; RETAILERS SOFT - CLICK HERE

EUROPE BEFORE THE BELL: FUTURES MOSTLY LOWER - CLICK HERE

BRITAIN AT CENTRE OF BOND MARKET STORM - CLICK HERE