Friday, 4 October 2024 03:15 WIB | MARKET UPDATE |DOW JONESS & P 500Indeks NasdaqSahamAS
U.S. stocks finished lower on Thursday ahead of Friday’s monthly U.S. payrolls report and as investors kept a watchful eye on the growing conflict in the Middle East.
Data on Thursday showed that the number of Americans filing new applications for unemployment benefits rose marginally last week.
Still, Hurricane Helene and strikes at ports could distort the labor market picture in the near term. The key report this week for investors could be Friday’s employment report for the month of September.
Investors are eager for more data on the labor market after the Federal Reserve last month cut its benchmark interest rate by an unusually large 50 basis points, the first reduction in borrowing costs since 2020.
According to preliminary data, the S&P 500 (.SPX), lost 9.87 points, or 0.17%, to end at 5,699.67 points, while the Nasdaq Composite (.IXIC), lost 4.83 points, or 0.03%, to 17,920.30. The Dow Jones Industrial Average (.DJI), fell 192.14 points, or 0.46%, to 42,004.38.
The S&P 500 remains up roughly 19% for the year so far.
The benchmark S&P 500 briefly turned positive after the Institute for Supply Management survey showed U.S. service sector activity jumped to a one-and-a-half-year high in September, further evidence that the economy stayed robust in the third quarter.
Source : Reuters