The three main stock indices of the US market ended Friday’s negotiations in the red. Wall Street fell after receiving a report of mixed employment in USAdue to bets on further rate hikes from the Federal Reserve.
The index Dow Jones, made up of the shares of 30 industrial giants, lost 1.07%, with 31,318.44 points. The reference S&P 500 of 500 components also moved 1.07% to close at 3,924.26 points. the technological Nasdaq it lost 1.31% to 11,630.86 points.
The payroll or farm report showed that employers in the world’s largest economy created 315,000 job positions in August, a figure much higher than that expected by analysts of 300,000 new jobs. Unemployment advanced to 3.7% from 3.5 percent.
While a cooling in wage growth (0.3% vs. estimates of 0.4%) and rising unemployment at times supported optimism about inflation, another brief uptick faded on expectations of a Federal Reserve More strict.
“The labor market is moving in the right direction for the Fed. The unemployment rate increased, as it has not done since the beginning of 2020. However, these numbers are too good in the face of unusually high inflation,” explained eToro.
Some analysts also noted that profits evaporated after Gazprom, the Russian state-controlled company with a monopoly on Russian gas exports to Europe, said it still could not safely restart deliveries.
The company that supplies through a pipeline was supposed to restart operations on Saturday, but reported that it would not be able to do so until it repaired an oil leak found in a turbine. The energy sector was the only one in green among the main ones in the market.
With these strong movements, the three indexes extended their negative streaks and in a third negative week the Dow Jones registered a cumulative loss of 2.99%, while the S&P 500 fell 3.29% and the Nasdaq Composite fell 4.21 percent.
jose.rivera@eleconomista.mx
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