Investing.com -- Wall Street looks set to end the week on a losing note as weak activity data has investors fretting about the possibility of a U.S. recession. Nonfarm payrolls will be studied for growth clues, while results from tech heavyweights Apple and Amazon will also be in the spotlight.Economists are expecting the U.S. economy to have created 177,000 jobs in July, moderating from 206,000 in the prior month.kept its benchmark overnight interest rate in the 5.25%-5.
Investors will be focusing upon the official jobs report for more clues of the strength of the U.S. labor market, with risk sentiment ending the week on the back foot.) after the chipmaker said it would cut more than 15% of its workforce and suspend its dividend starting in the fourth quarter as it pursues a turnaround.
Services revenue rose 14% to record high of $24.21 billion, beating Wall Street estimates of $24.01 billion. Despite these difficulties, things could get better next quarter, as analysts expect a strong upgrade cycle for the iPhone 16 series, likely to be launched in September. Additionally, the company offered up third-quarter revenue guidance of $154-158.5 billion, short of expectations of $158.2 billion.
The weak economic prints saw markets largely look past heightened tensions in the Middle East after the killing of a Hamas leader in Iran earlier in the week.
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