Home » News » Börse Express – New York shares: Job data keep US stock markets on course for stabilization

Börse Express – New York shares: Job data keep US stock markets on course for stabilization

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NEW YORK (dpa-AFX) – The job market report for June kept the US stock markets on their stabilization course on Friday. After gains in the past two trading days, things have now gone down moderately.

Der Dow Jones Industrial fell 0.43 percent to 31,250.98 points in early trade. On a weekly basis, the best-known Wall Street index is one percent ahead.

For the market-wide S&P 500 it went down 0.71 percent on Friday to 3874.73 points. The Nasdaq 100 technology selection index Although it fell more significantly by 1.04 percent to 11,983.17 points, it has increased by 3.4 percent over the course of the week so far. However, it remains in the bear market, down more than 20 percent from its record high in November 2021.

Andrew Hunter, analyst at Capital Economics, spoke of a sharp increase in non-farm payrolls for the month of June. This “seems to make a mockery of the claim that the economy is headed for, or already in, a recession.” He therefore considers a further interest rate hike of 75 basis points at the US Federal Reserve meeting at the end of the month to be a good possibility. At the same time he referred to further details in the job report. The slowdown in wage growth and the recent collapse in commodity prices may already be indications that the inflation outlook may be improving faster than previously thought

 ISIN  US2605661048  US6311011026  US78378X1072

AXC0248 2022-07-08 / 16: 20

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