• Email Us: [email protected]
  • Contact Us: +1 718 618 4351
  • Skip to main content
  • Skip to primary sidebar

Medical Market Report

  • Home
  • All Reports
  • About Us
  • Contact Us

Wall Street mixed after September jobs miss

October 8, 2021 by David Barret Leave a Comment

October 8, 2021

By Devik Jain and Sruthi Shankar

(Reuters) -U.S. stocks oscillated between gains and losses on Friday after data showed U.S. jobs rose far less than expected in September, but not slow enough to throw the Federal Reserve off its presumed course of tapering asset purchases this year.

Six of the 11 major S&P sectors declined, with defensive real estate, healthcare and utilities among the top losers.

The energy sector jumped 2.9%, while a rise in mega-cap growth shares Microsoft, Facebook Inc and Bank of America provided the biggest boost to the S&P 500.

The banking sub-index gained 0.7%, tracking a rise in the benchmark 10-year Treasury yield to its highest level since June 4. [US/]

The tech-heavy Nasdaq was weighed down by declines in shares of broadband and cable operator Charter Communications Inc and media company Comcast Corp which fell 4.6% and 3.3%, respectively, after downbeat brokerage actions.

The Labor Department’s closely watched nonfarm payrolls report showed the U.S. economy created the fewest jobs in nine months in September amid a drop in hiring at schools and worker shortages. While unemployment rate fell to 4.8% from 5.2% in August, average hourly earnings rose by a more-than-expected 0.6%.

“All in all, it is still consistent with continued job growth overall. It may not be as strong as we hoped but it is still showing signs of improvement,” said Scott Brown, chief economist at Raymond James, St. Petersburg, Florida.

“The Fed has cited sustained improvement in labor market for tapering (and) this adds to the cumulative evidence.”

The weak data did not spur changes to rate hike expectations either. Futures on the federal funds rate has priced in a quarter-point tightening either by November or December next year.

The numbers follow better-than-expected private jobs data and weekly jobless claims report, while a temporary reprieve from U.S. Senate agreeing to raise the federal government’s $28.4 trillion debt limit set the three major U.S. indexes for weekly gains.

At 11:39 a.m. ET, the Dow Jones Industrial Average was up 13.23 points, or 0.04%, at 34,768.17, the S&P 500 was up 0.73 points, or 0.02%, at 4,400.49, and the Nasdaq Composite was down 35.24 points, or 0.24%, at 14,618.77.

Advancing issues outnumbered decliners by a 1.17-to-1 ratio on the NYSE. Declining issues outnumbered advancers for a 1.08-to-1 ratio on the Nasdaq.

The S&P index recorded 23 new 52-week highs and three new lows, while the Nasdaq recorded 68 new highs and 65 new lows.

(Reporting by Devik Jain in Bengaluru; additional reporting by Susan Mathew, Bansari Mayur Kamdar and Anisha Sircar, Editing by Maju Samuel)

Source Link Wall Street mixed after September jobs miss

David Barret
David Barret

Related posts:

  1. IMF says crucial Chad gets debt treatment deal with private creditors
  2. Asian shares at 1-month low, default fears stalk China Evergrande
  3. Allianz speeds up succession planning in light of Structured Alpha lawsuits
  4. World Bank cuts Thai GDP growth outlook to 1% this year

Filed Under: News

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

  • TWIS: People Are Less Satisfied In Marriage If Their Partner Has Social Anhedonia, A Supermassive Black Hole Is Shooting Straight At Us, And Much More This Week
  • “Forever Chemicals” Removed From Water Without Toxic Residue In New Method
  • The World’s Largest Extinct Geyser Was 4 Times Bigger Than Yellowstone’s Steamboat
  • Astrophysicist Figures Out 17th-Century Astronomer Was Nearsighted By Looking At His Telescopes
  • Rare Complete Ancient Egyptian Zodiac Discovered On Temple Ceiling
  • One Drug Stopped Progression Of Many Types Of Cancer In Small Trial
  • Was Stonehenge A Giant Calendar? The Truth Is Perhaps More Difficult
  • Army “Telepathically” Controls Robot Dogs In Eerie Video
  • How We Know Astrology Isn’t Real
  • With 16 Sunsets A Day, How Do Muslim Astronauts Observe Ramadan In Space?
  • There’s A Depressing Reason For The “Orgasm Gap” Between Heterosexual Women And Men
  • Green Disease: Another Illness Laced With Past Misogyny
  • Once-In-A-Decade Event As Asteroid Flies By Earth Tomorrow
  • 1,700 Tons Of DDT Dumped In The Ocean Isn’t Breaking Down
  • Earth Just Got Hit By The Strongest Geomagnetic Storm In 6 Years
  • Listen To The Sound Of A 9,000-Year-Old Flute Made of Bone
  • Ancient Bison Found In Permafrost Is So Well Preserved Scientists Want To Clone It
  • Space-Time Crystals Have Been Caught On Camera Doing Their Thing
  • Trinitite Is Atomic Rock Forged By The Fireballs Of Nuclear Bombs
  • Why Sitting With Crossed Legs Could Be Bad For You
  • Business
  • Health
  • News
  • Science
  • Technology
  • +1 718 618 4351
  • +91 78878 22626
  • [email protected]
Office Address
Prudour Pvt. Ltd. 420 Lexington Avenue Suite 300 New York City, NY 10170.

Powered by Prudour Network

Copyrights © 2023 · Medical Market Report. All Rights Reserved.

Go to mobile version