Market sell-off sparked by weak jobs data, earnings

  • 📰 YahooFinanceCA
  • ⏱ Reading Time:
  • 44 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 24%
  • Publisher: 63%

Downward Spiral News

July Jobs Report

Stocks (^GSPC) hovering around session lows with less than an hour before the close, after Friday's weaker-than-expected jobs report sent markets into a...

) hovering around session lows with less than an hour before the close, after Friday's weaker-than-expected jobs report sent markets into a downward spiral.showed the US economy added 114,000 nonfarm payroll jobs in July - far fewer than than 175,000 expected by economists. The unemployment rate jumped more than expected, to 4.3% - its highest level since October 2021.All right, we got one hour to go until the market closed and we are seeing a steep sell off for the major averages here.

And Wednesday wasn't a bad day by the day, but things quickly soured in the middle of the day and it's been heading down for the better part of the half, the, the back half of this week since midday, Wednesday.Remember the Russell 2000, which was just really perking up, getting people excited that might actually have a chance of getting new highs because it hasn't in several years.

You can see that big spike up here, but this is concerning uh you start seeing the VICS perk up like this and trending higher with higher highs that just points to the fact that we're probably heading into a period of more serious corrections here.Only staples in the green here, we have consumer discretionary down 4% tech down 3%.Almost 6% are seeing some strength in the interest rate, sensitive portions of the market that would be utilities and real estate.

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:

 /  🏆 47. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Market movers: Stocks seeing action on FridayA survey of North American equities heading in both directions
Source: globeandmail - 🏆 5. / 92 Read more »

Stocks rebound, housing market tips: Market Domination OvertimeIn today's episode of Market Domination Overtime, hosts Josh Lipton and Julie Hyman dive into the most prominent dynamics leading stocks and the US housing...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Market rotation, interest rates, copper crash: Market TrendsMarkets (^DJI,^GSPC, ^IXIC) pulled back in Friday trading, burdened by declines in chip stocks and investor rotations out of Big Tech into small-cap stocks, ...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stocks close below flatline ahead of Alphabet, Tesla earningsThe major market averages (^DJI, ^IXIC, ^GSPC) close just below their flatlines as stocks await the release of top second quarter earnings from Magnificent...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Earnings guidance could be major indicator for US consumerStocks (^DJI, ^IXIC, ^GSPC) are trading higher at Tuesday's market open, boosted by June's retail sales data and second-quarter earnings beats from Bank of...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »