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Fintech Spotlight: What is Tokenization

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What’s in Today’s Report:

  • Jobs Day
  • Fintech Spotlight: What is Tokenization (And Is It a Growth Opportunity?)

Futures are mixed as bond yields retreat ahead of today’s August jobs report.

There were no major geopolitical or macro developments overnight.

Economic data was mixed as EU retail sales fell 0.6% m/m vs. (E) 0.3%, while German Factory Orders rose 2.5% m/m vs. (E) 0.3%.

Today focus will be on the jobs report and estimates are as follows: 55K Job-Adds, 4.2% Unemployment Rate and 3.0% Wage Growth. A Goldilocks report would be supportive for stocks and help keep bond yields contained.

There are no Fed speakers or notable earnings reports scheduled today, leaving the jobs report and resulting Treasury market reaction as the primary focus for stocks.