While tech stocks underperformed the broader US market, they helped European stocks snap a four-day streak of declines. — AFP pic
Earlier data from the ADP National Employment Report showed private payrolls rose by 428,000 jobs in August, well short of expectations as the government’s aid to support workers and employers runs out. While July’s data was revised higher, the report indicated a slowing in the labor market recovery.
“What you’re seeing today is a bit of a rotation,” said Lindsey Bell, chief investment strategist at Ally Invest. “Unless you really think tech is going to completely crash it can take a breather and allow some of the other value oriented and cyclical sectors to take the reins for a while.” While tech stocks underperformed the broader US market, they helped European stocks snap a four-day streak of declines. Tech shares jumped 1.98 per cent to close at the highest in more than 19 years.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Ireland Ireland Latest News, Ireland Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stocks gain on brisk US manufacturing survey, stimulus hopes | Malay MailTOKYO, Sept 2 — Asian shares inched up today following buoyant US manufacturing indicators and a rally in US tech shares, with investors also expecting more policy support from Washington. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.25 per cent while Japan’s Nikkei...
Source: malaymail - 🏆 1. / 86 Read more »
Stocks climb as recovery hopes gather strength | Malay MailLONDON, Sept 2 — Shares gained strongly today as investors bet that improving economic data and more policy stimulus from Washington would add momentum for equities. European stocks gathered steam through morning trading, gaining 2.1 per cent and were set to snap four straight days of losses....
Source: malaymail - 🏆 1. / 86 Read more »
Stocks dip but clinch fifth month of gains; dollar soft | Malay MailNEW YORK, Sept 1 — A gauge of global stocks pulled back from a record high yesterday but locked in a fifth straight month of gains while the dollar remained weak as investors adjust to the policy shift outlined by Federal Reserve Chair Jerome Powell last week. US stocks were mostly lower, with...
Source: malaymail - 🏆 1. / 86 Read more »
Manufacturing data helps lift stocks, US dollar bounces | Malay MailNEW YORK, Sept 2 — A gauge of global stocks hit a record to start September on a high note yesterday, as data in major economies showed manufacturing demand rebounding from coronavirus-restricted lows, while the US dollar bounced off its lowest in more than two years. In the United States, stocks...
Source: malaymail - 🏆 1. / 86 Read more »
British stocks gain on signs of economic recovery | Malay MailLONDON, Sept 2 — London-listed shares rose for the first time in four sessions today as a surge in house prices to record highs powered stocks of homebuilders, while Rolls-Royce jumped to the top of the FTSE 100. The blue-chip index and the mid-cap FTSE 250 climbed 1.4 per cent and 0.7 per cent,...
Source: malaymail - 🏆 1. / 86 Read more »
Tokyo stocks close higher, tracking US indices | Malay MailTOKYO, Sept 2 — Tokyo stocks closed higher today, tracking rallies on Wall Street spurred by improving US manufacturing data. The benchmark Nikkei 225 index added 0.47 per cent or 109.08 points to end at 23,247.15, while the broader Topix index rose 0.47 per cent or 7.59 points to 1,623.40....
Source: malaymail - 🏆 1. / 86 Read more »