https://sputnikglobe.com/20211008/us-stocks-drop-but-eke-out-weekly-gain-after-mixed-jobs-report-for-september-1089779296.html
US Stocks Drop But Eke Out Weekly Gain After Mixed Jobs Report for September
US Stocks Drop But Eke Out Weekly Gain After Mixed Jobs Report for September
Sputnik International
NEW YORK (Sputnik) - US stocks fell on Friday after an anemic jobs report for September still signaled a tapering of the Federal Reserve’s pandemic-era... 08.10.2021, Sputnik International
2021-10-08T21:30+0000
2021-10-08T21:30+0000
2022-08-06T13:25+0000
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But the three main equity indexes on Wall Street still managed to eke out a weekly gain, with the broad-based Dow Jones Industrial Average leading the pack with a rise of more than 1%, reacting to positive economic data earlier in the week.FOMC, or Federal Open Market Committee, is the policymaking arm of the Federal Reserve.The Dow index finished Friday’s session down 9 points, or 0.03%, at 34,748. For the week, it rose 1.2%.The S&P 500, which groups the top 500 stocks on the New York Stock Exchange, settled down 8 points, or 0.2%, at 4,391. The blue-chip indicator rose 0.8 on the week.The Nasdaq Composite, comprising growth stocks such as Facebook, Amazon, Apple, Netflix and Google, closed down 75 points, or 0.5%, at 14,580. The tech barometer gained 0.1% on the week.The US Labor Department reported on Friday a non-farm payrolls growth of 194,000 for September, versus the 235,000 for August and well below the forecast of 500,000.The weak jobs growth was a sign to some that the Federal Reserve might take much longer to put into action the much-anticipated taper of its pandemic-era monthly stimulus of $120 billion for the economy.But the Labor Department also reported that the US unemployment rate fell to 4.8% from the August level of 5.2%.The drop in the jobless rate is important as it closes in on the Federal Reserve’s target of 4% for “full employment” - which central bank chair Jerome Powell has repeatedly used as a gauge for any monetary tightening to come.
https://sputnikglobe.com/20211008/build-back-bankrupt-dems-wrangle-over-35-trln-spending-bill-despite-debt-limit-close-call-1089774888.html
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bankruptcy, wall street, debt ceiling, us federal reserve, us jobs report, us stocks, us
bankruptcy, wall street, debt ceiling, us federal reserve, us jobs report, us stocks, us
US Stocks Drop But Eke Out Weekly Gain After Mixed Jobs Report for September
21:30 GMT 08.10.2021 (Updated: 13:25 GMT 06.08.2022) NEW YORK (Sputnik) - US stocks fell on Friday after an anemic jobs report for September still signaled a tapering of the Federal Reserve’s pandemic-era stimulus before the end of the year.
But the three main equity indexes on Wall Street still managed to
eke out a weekly gain, with the broad-based Dow Jones Industrial Average leading the pack with a rise of more than 1%, reacting to positive economic data earlier in the week.
“US stocks did not know how to react to a complex jobs report,” Ed Moya, analyst at online trading platform OANDA. said. “An adequate jobs report continues to pave the way for the Fed to make a formal taper announcement at the November 3rd FOMC meeting.”
FOMC, or Federal Open Market Committee, is the policymaking arm of the Federal Reserve.
The Dow index finished Friday’s session down 9 points, or 0.03%, at 34,748. For the week, it rose 1.2%.
The S&P 500, which groups the top 500 stocks on the New York Stock Exchange, settled down 8 points, or 0.2%, at 4,391. The blue-chip indicator rose 0.8 on the week.
The Nasdaq Composite, comprising growth stocks such as Facebook, Amazon, Apple, Netflix and Google, closed down 75 points, or 0.5%, at 14,580. The tech barometer gained 0.1% on the week.
The US Labor Department reported on Friday a non-farm payrolls growth of 194,000 for September, versus the 235,000 for August and well below the forecast of 500,000.
8 October 2021, 17:08 GMT
The weak jobs growth was a sign to some that the Federal Reserve might take much longer to put into action the much-anticipated taper of its pandemic-era monthly stimulus of $120 billion for the economy.
But the Labor Department also reported that the US unemployment rate fell to 4.8% from the August level of 5.2%.
The drop in the jobless rate is important as it
closes in on the Federal Reserve’s target of 4% for “full employment” - which central bank chair Jerome Powell has repeatedly used as a gauge for any monetary tightening to come.
