It’s a regular day of business for the U.S. stock market on Monday, October 10, as equity exchanges stay open for Columbus Day, a federal holiday that also has been recognized as Indigenous Peoples’ Day.
Stocks have endured a brutal selloff in the first nine months of the year as the Federal Reserve has worked to fight inflation that’s been stuck near it highest levels since the early 1980s. The Fed’s focus in recent months also has been on cooling the roaring labor market, with strong wage gains in the past year viewed as one of several culprits behind elevated inflation.
The S&P 500 index SPX, -2.80% tumbled 1.9% on Friday, the Dow Jones Industrial Average DJIA, -2.11% was down 1.5% and the Nasdaq Composite Index COMP, -3.80% was off 2.6%. And early October rally had offered some hope for a bounce for stocks, after a brutal first nine months for investors.
INDIGENOUS PEOPLE’S DAY!!!!!
Looking at numbers of job added paints biased pictures. Most of jobs added are in service industries (restaurants and hotels) and healthcare (nursing homes). We should also measure average wage per job to evaluate the labor market.
The what day?
In case anyone is wondering, yes the markets will be open. No click bait please, MW.
Yes