NEW YORK — Another rout hit Wall Street Friday, with formerly high-flying technology stocks again taking the brunt, after a highly anticipated update on the U.S. job market came in weak enough to add to worries about the economy.
Such a softening of the job market is actually just what the Federal Reserve and its chair, Jerome Powell, have been trying to get in order to stifle high inflation, “but only to a certain extent and the data is now testing Chair Powell’s stated limits,” said Scott Wren, senior global market strategist at Wells Fargo Investment Institute.
Still, the jobs report did include some encouraging data points. For one, the unemployment rate improved to 4.2% from 4.3% a month earlier. That was better than economists expected. And even if August’s hiring was weaker than forecast, it was still better than July’s pace. All the uncertainty sent Treasury yields on a wild ride in the bond market as traders tried to handicap the Fed’s next moves.
A big reason for Friday’s sharp drops was weakness for some big tech stocks that had been benefiting from the AI boom.
Wir haben diese Nachrichten zusammengefasst, damit Sie sie schnell lesen können. Wenn Sie sich für die Nachrichten interessieren, können Sie den vollständigen Text hier lesen. Weiterlesen:
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Stock market today: S&P 500, Nasdaq surge as wild week on Wall Street continuesStocks rallied on Thursday as a fresh reading on weekly unemployment claims helped calm recession fears.
Herkunft: YahooFinanceCA - 🏆 47. / 63 Weiterlesen »
Stock market today: Stocks wobble as Wall Street looks to end volatile week on high noteA wild week on Wall Street is coming to a close.
Herkunft: YahooFinanceCA - 🏆 47. / 63 Weiterlesen »
Stock market today: Wall Street is steady ahead of big tests coming later in the weekNEW YORK (AP) — Wall Street is holding relatively steady, as markets around the world stabilize following a wild week. The S&P 500 was up 0.3% in early trading Monday. The Dow Jones Industrial Average rose 58 points, or 0.
Herkunft: SooToday - 🏆 8. / 85 Weiterlesen »
Stock market today: Wall Street opens higher after inflation report comes in better than expectedNEW YORK (AP) — U.S. stocks are rising, and Wall Street is relaxing a bit after the first of several highly anticipated reports on the economy this week came in better than expected. The S&P 500 was 0.
Herkunft: SooToday - 🏆 8. / 85 Weiterlesen »
Stock market today: Wall Street holds steady after an inflation report comes in as expectedNEW YORK (AP) — Wall Street is holding relatively steady after the latest update on inflation came in almost exactly as economists expected. The S&P 500 was up 0.1% in early trading Wednesday, coming off one of its best days of the year.
Herkunft: SooToday - 🏆 8. / 85 Weiterlesen »
Stock market today: Wall Street gives back some of its gains as its rally loses momentumNEW YORK (AP) — Stocks are giving back some of their big gains from earlier in the week as Wall Street’s rally loses some steam. The S&P 500 was 0.3% lower early Friday and on track for its first drop in seven days.
Herkunft: SooToday - 🏆 8. / 85 Weiterlesen »