U.S. stocks continue to experience volatile trading

Date:

After showing a lack of direction early in the session, stocks continue to show poor performance in daytime trading on Friday. The main average spent days bouncing back and forth on the unchanged line.

Currently, the major averages are recording small losses. The Dow fell 3.87 points or less than a tenth percent at 34,751.07, the Nasdaq fell 45.67 points or 0.3 percent at 14,608.34, and the S & P 500 fell 2.69 points or 0.1 percent at 4,397.07.

Unstable trading on Wall Street occurs after the Ministry of Labor’s carefully watched monthly employment report shows much weaker employment growth than expected in September.

According to the report, non-farm payrolls increased by 194,000 in September after an increase in 366,000 jobs, which was revised upward in August.

Economists expected employment to increase by 500,000 compared to the 235,000 additional jobs originally reported last month.

Despite much weaker employment growth than expected, the unemployment rate fell from 5.2% in August to 4.8% in September. The unemployment rate was expected to drop to 5.1%.

The unemployment rate has fallen more than expected and has fallen to its lowest level since reaching 4.4% in March 2020.

However, the decline in employment rates was partly due to the shrinking labor force, reflecting prolonged labor supply constraints.

The data has brought some uncertainty about the outlook for monetary policy, and most economists agree that disappointing job growth does not discourage the Federal Reserve from diminishing stimulus.

Andrew Hunter, senior US economist at Capital Economics, said: “The disappointing increase in non-farm payrolls of 194,000 in September is’decent enough to start declining asset purchases next month. “It will be counted as a thing,” he said.

“But along with signs of a sharp slowdown in activity growth, worsening labor shortages are putting serious upward pressure on wage growth, and the federal government over the next few months, he added. It seems to put officials in an uncomfortable position, “he added.

Sector news

Most of the major sectors showed modest movements on the day, contributing to the sluggish performance of a wide range of sectors. market..

Energy stocks continue to show significant strength, but soaring oil prices have contributed to the strength of the sector. Crude oil delivered in November has jumped from $ 1.25 a barrel to $ 79.55.

Reflecting the strength of the energy sector, the NYSE Arca Oil Index is up 2.2%, the Philadelphia Oil Services Index is up 2.1% and the NYSE Arca Natural Gas Index is up 1.2%.

Gold and bank stocks have also shown some strength in daytime trading, but semiconductor and housing stocks have turned down.

Other markets

In foreign trading, the Asia-Pacific stock market almost rose during Friday’s trading. Japan’s Nikkei 225 Index rose 1.3%, while China’s Shanghai Composite Index rose 0.7% as trading resumed after a week’s vacation.

Meanwhile, major European markets performed differently on the day. The UK’s FTSE 100 index rose 0.3%, the German DAX index fell 0.3%, and the French CAC 40 index fell 0.6%.

In the bond market, government bonds initially showed a lack of direction and then fell during the session. After that, the yield on the benchmark 10-year bond, which moves in the opposite direction to the price, rose 3.6 basis points to 1.607%.

Contact for comments and feedback: editorial@rttnews.com

Business news

window.fbAsyncInit = function () {
FB.init({
status: true,
cookie: true,
xfbml: true
});
};
(function (d) {
var js, id = ‘facebook-jssdk’; if (d.getElementById(id)) { return; }
js = d.createElement(‘script’); js.id = id; js.async = true;
js.src = “https://connect.facebook.net/en_US/all.js”;
d.getElementsByTagName(‘head’)[0].appendChild(js);
}(document));

U.S. stocks continue to experience volatile trading

Source link U.S. stocks continue to experience volatile trading

The post U.S. stocks continue to experience volatile trading appeared first on Eminetra.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Share post:

Popular

More like this
Related

Stonehenge builders were infected with parasites, ancient poop reveals

In addition to the Neolithic monument, the Stonehenge builders...

Bruce Willis’ wife Emma Heming struggles in diagnosing aphasia

You need to give top priority to yourself. Emma...

Boston Celtics Throttle Miami Heat to Level East Finals One Game at a Time | NBA

Jayson Tatum scored 27 points, Marcus Smart and Jaylen...

Texarkana, Texas – Uncle Kracker to headline Hope Watemelon Festival

Texarkana, Texas 2022-05-19 23:40:00 – One of the most...