Good morning and welcome to Markets Desk, your midday read on the stories moving markets and the broader economy.
The labor market is sending a clear signal that demand for workers remains resilient. April job openings surged to seven point six million, the highest level in nearly two years, with available positions jumping by seven hundred thirty one thousand from March. That kind of print puts pressure on the Fed to hold its cautious stance on rate cuts, as a tight labor market keeps wage inflation in the conversation.
Shifting to commodities, cotton is extending its rebound through Tuesday morning, with futures up sixty to ninety three points across contracts. The move comes alongside a weaker dollar, which fell nearly thirty cents to ninety eight point one four, and a sharp rally in crude oil, which closed up more than five dollars. A softer dollar generally supports dollar-denominated commodity prices by making them cheaper for foreign buyers.
And in space and satellite markets, AST SpaceMobile is catching a bid after Blue Origin expressed confidence it can return its New Glenn rocket to flight before the end of two thousand twenty six, following a significant explosion. Blue Origin's timeline matters here because AST SpaceMobile depends on heavy lift capacity to build out its direct-to-device satellite network, and any credible recovery story removes a key operational risk for the company.
That's the tape. Markets Desk, signing off the floor.
