2023-07-08 01:24:18
Stock news6:15pm2023-07-08
The Dow Jones New York Stock Exchange ended lower on Friday (July 7) following volatile trading. While investors adjust to the employment report that increases less than expected. And wait for the release of new economic data as well as earnings reports of listed companies in the coming weeks.
The Dow Jones Industrial Average closed at 33,734.88 points, down 187.38 points or -0.55%.
The S&P500 closed at 4,398.95, down 12.64 points, or -0.29%.
The Nasdaq Index closed at 13,660.72, down 18.33 points or -0.13%.
in this week The Dow was down regarding 2%, the S&P500 was down regarding 1.2% and the Nasdaq was down 0.9%.
The US Labor Department reported that nonfarm payrolls rose by 209,000 in June. The unemployment rate dropped to 3.6%, in line with analyst expectations.
U.S. employment rose the smallest in two-and-a-half years in June. Although strong wage growth continues to indicate that the labor market is still tight.
The market is still under pressure from expectations that The Federal Reserve (Fed) will raise interest rates at its July meeting. After fixing interest rates in June This is because employment growth in the US remains above the 10-year average before the pandemic.
Chicago Fed President Austin Gooseby said: He agreed with other Fed officials that two more rate hikes will be needed this year to curb excessively high inflation.
Safe stocks in the S&P 500 index lost the most. The consumer goods group fell 1.3%, while the energy group rose 2.1% and the materials group rose 0.9%.
For individual stocks, Levi Strauss stock fell 7.7% following the company cut its annual profit forecast.
China’s Alibaba, listed on the U.S. stock market, soared 8 percent once morest the market following Chinese officials said it had lost 8 percent. Will order to fine Ant company Group, an Alibaba subsidiary, for $984 million, which the Ant fined. The group will mark the end of regulatory scrutiny and restructuring that Chinese authorities have imposed on companies for years. And it’s an opening for Ant. Group returns to IPO and listing on the market and is licensed to operate as a financial holding company
By InfoQuest News Agency (08 July ’23)
Tags: Dow Jones, New York Stock Exchange
1688782265
#Dow #closes #points #jobs #data #adds #expected #InfoQuest
