The May jobs report was just released at 8:30 AM ET, and the numbers came in better than expected.
The change in nonfarm payrolls was 175,000, better than the 163,000 expected by market economists. The unemployment rate, on the other hand, edged up to 7.6%, versus expectations for an unchanged reading at 7.5%.
Markets were volatile in the wake of the report. Gold and Treasuries initially plunged when the headlines crossed, but then spiked past pre-release levels.
Now, however, gold is really getting slammed. The shiny yellow metal is trading around $1382 an ounce, down 2.4% on the day.
Meanwhile, stocks are rising. S&P 500 futures are trading around 1633 versus levels around 1626 prior to the release, and are now up 0.6% on the day.
10-year Treasury futures are trading down 0.4%, and t he yield on the 10-year Treasury is 6 basis points higher at 2.13%.
And the yen is sliding against the dollar.
More From Business Insider