Equities show a mixed performance early as Nasdaq futures lead while the Russell turns negative. Following a softer China CPI print and average demand for the U.S. three-year note auction, Treasury yields are trending higher across the curve. The labor market surprised to the upside with a significant non-farm payrolls beat, a drop in the unemployment rate to 4.3%, and a rise in labor force participation. While gold, silver, and crude oil remain positive, they have retreated from daily highs. Market participants are now focusing on the upcoming 10-year note auction and a dense schedule of corporate earnings, including Cisco and McDonald’s, alongside crucial jobless claims data acting as a tie-breaker for economic sentiment.