Head over to our US site for more market moving news.

Some commentary rolling in on the revised jobs numbers in the US and what they could mean:

Gabriel McKeown, head of macroeconomics at Sad Rabbit Investments said:

Jobs data which showed US payroll gains at 246,000 for March have been revised down, and 818,000 fewer jobs than previously reported were added over the 12 months ended March, according to the BLS. That means payroll gains are now down 68,000 a month, on average.

Job growth in March 2024 now stands at 1.4%, rather than 1.9%.

Job growth is a key metric the Federal Reserve looks to when balancing the probability of sticky inflation and weighing its next rate cuts.

Everyone's asking it... George Saravelos, global head of FX research at Deutsche Bank has some answers. He says:

Here's AJ Bell investment analyst Dan Coatsworths take:

National Express owner Mobico (MCG.L) saw shares jump over 12% as its European coach and bus segment delivered a record half-year.

The FTSE 250 (^FTMC) transport operator also confirmed the process of selling off its struggling North American School Bus unit is now “underway,” with progression “in line with expectations.”

Mobico, which posted a 28.1% jump in its first-half profit, is selling the unit as part of a debt-cutting programme set to be rolled out in the second half of this year.

The bus unit generated £1.12bn in revenue in 2023, while the group's net debt at the end of June stood at £1.24bn.

CEO Ignacio Garat said: “Mobico has delivered a good performance in the first half of 2024, with continuing positive passenger demand and revenue growth.

“Addressing our leverage remains a priority and in addition to commencing the formal sale process for North American School Bus, we have identified new organic debt reduction initiatives that will deliver in the second half. We remain confident of achieving FY 24 adjusted operating profit of between £185m and £205m.”

Investors will not receive a half-year dividend payout. Last year, Mobico suspended its dividend and decided not to pay an interim dividend.

Shares in the streaming company touched a new record high on Tuesday and were higher in pre-market trading as it announced a 150% increase in sales commitments over 2023.

In a blog post, Amy Reinhard, president of advertising, said the company closed upfront deals with all major holding companies as well as independent agencies.

The ad commitments included spots for consumer products, technology, entertainment, auto, retail and fast-food restaurants.

This pushed its share price to an all-time high on Tuesday morning, momentarily rising above a share price of $700.

Upcoming movies and series such as Happy Gilmore 2 and Squid Game 2, along with the recent acquisition of live sports content like the NFL Christmas Day games and WWE Raw, which will kick off in January 2024, helped fuelled the success, according to the company.

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Telecoms major BT Group (BT-A.L) is down again this morning following a significant drop on Tuesday. Markets are reacting to news that rival Cityfibre has struck a deal with Sky. The broadcaster is expected to use Cityfibre's network from 2025, the pair said on Tuesday.

BT's OpenReach network currently hosts Sky's 5.7 million customers on its network.

Cityfibre's customer base currently stands at 3.8 million, and the company has laid out plans to increase that to 8 m by the end of next year.

Stock is currently down about 1.3%.

The mission to recover the bodies of British tech entrepreneur Mike Lynch and five others continues, following the sinking of the Bayesian yacht off the coast of Sicily in the early hours of Monday.

Catch up on what happened yesterday here.

Mike Lynch is a tech entrepreneur famous as the former CEO of Autonomy Corporation, which he founded and grew in the mid-90s. Autonomy was purchased by Hewlett-Packard (HPQ) in 2011 — an $11bn deal which led to Lynch being accused of 15 counts of fraud on US turf.

HP eventually wrote down Autonomy's value by $8.8bn after the company was accused of inflating sales and misleading investors to clinch the deal.

In June this year, he was cleared of all counts in San Francisco, after a 13-year legal tussle. Morvillo had worked on Lynch's defence. He has been a partner at magic circle law firm Clifford Chance in New York since 2011.

Rescuers are now trying to use remote control underwater vehicles to search the wreck, which is 50 m deep.

Stocks across Asia were lower in Wednesday's session, dragged down by a number of factors including individual company losses and a strong yen.

JD.com (JD) fell 9.5% in the session, slumping after Walmart sold a $3.7bn stake in the e-commmerce giant. Reuters reported this constitutes Walmart's entire stake in the retailer.

The Hang Seng (^HSI) was down 0.9% by the closing bell, while the Nikkei (^N225) was down 0.3%.

The S&P 500 (^GSPC) is back near all-time highs.

A recent rally in tech, including a nearly 30% pop in Nvidia (NVDA), has helped bring the index up more than 7% since its 5 August bottom.

In that time, the "Magnificent Seven" tech stocks — Apple (AAPL), Alphabet (GOOGL, GOOG), Microsoft (MSFT), Amazon (AMZN), Meta (META), Tesla (TSLA), and Nvidia (NVDA) — have added more than $1.4 tn in market cap, nearly half of the S&P 500's $3.2tn market cap gain since 5 August.

After a massive drawdown in July, the recent surge helped bring the Nasdaq Composite (^IXIC) out of correction in 11 days, marking its shortest correction since October 2011.

Ned Davis Research chief US strategist Ed Clissold recently told Yahoo Finance that given how tech led the losses in the drawdown, it "makes sense that they're going to rebound."

All eyes are on the Federal Reserve's meeting at Jackson Hole for their annual economic symposium.

Here's our preview of that event.

Overnight, stocks closed cautiously lower, snapping a winning streak which has seen major indexes head towards all time highs. The S&P 500 (^GSPC) and the Dow Jones Industrial Average (^DJI) fell 0.2% and the Nasdaq (^IXIC) was 0.3% lower when markets closed.

Hello — Lucy Harley-McKeown here ready to bring you another day of markets news.

Today we've already had UK public sector borrowing figures. Later in the US markets will be looking at mortgage application data and FOMC minutes after the market closes.

Let's get to it.