Investors are paying close attention to important employment data due on Friday. Markets are seen jittery ahead of the release of comprehensive NONFARM PAYROLLS data – which is likely to be the benchmark for the Federal Reserve to start cutting interest rates later this month.
The benchmark S&P 500 index and the Dow Jones Industrial Average closed lower in volatile trading on Thursday (05/09/24) after the release of a series of economic reports and investors paid attention to important employment data due on Friday.
The closing of the US market due to the Juneteenth holiday did not make investors lose their way. Today it is the turn of Asian market players who will initially focus on the central banks of CHINA & INDONESIA where both countries’ central banks will decide on policies related to interest rates today.
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The US Stock Market closed mixed on Wednesday (04/09/24), supported by gains in the Consumer Goods, Utilities, and Financials sectors, while losses in the Oil & Gas, Telecommunications, and Basic Materials sectors kept all three major indices relatively flat with the Dow Jones Industrial Average up 0.09%, while the S&P 500 fell 0.16%, and the NASDAQ Composite depreciated 0.31%.
Market sentiment also weakened as the Institute for Supply Management (ISM) explained US manufacturing data remained sluggish in contraction territory for August despite a slight improvement from July’s 8-month low.
The US equity market started September by recording its largest daily percentage decline since early August. The DJIA slumped 626.15 points, or 1.51%, to 40,936.93, the S&P 500 shed 119.47 points, or 2.12%, to 5,528.93, and the NASDAQ Composite collapsed 577.33 points, or 3.26%, to 17,136.30.
US stock markets were closed for the Labor Day holiday, but that didn’t stop market sentiment coming in from Asian & European exchanges. EUROZONE PMI remained in contractionary territory at 45.8 in August, although this figure was slightly better than forecast but the manufacturing sector was noticeably depressed by continued weak activity in Germany & France, according to a report by Hamburg Commercial Bank and S&P Global.
US stock markets were closed for the Labor Day holiday, but that didn’t stop market sentiment coming in from Asian & European exchanges. EUROZONE PMI remained in contractionary territory at 45.8 in August, although this figure was slightly better than forecast but the manufacturing sector was noticeably depressed by continued weak activity in Germany & France, according to a report by Hamburg Commercial Bank and S&P Global.
