• Terms and Conditions
  • Privacy Policy
  • DMCA
  • Disclaimer
  • Cookie Privacy Policy
  • Contact Us
Sixsense News
Advertisement
  • Home
  • Business
  • Economy
  • Fintech
  • Finance
  • Insurance
  • Market
  • Startups
No Result
View All Result
  • Home
  • Business
  • Economy
  • Fintech
  • Finance
  • Insurance
  • Market
  • Startups
No Result
View All Result
Sixsense News
No Result
View All Result
Home Business

Dow drops 500 points, S&P and Nasdaq also sink as jobless rates fall

Freddie Green by Freddie Green
October 7, 2022
in Business
0

Related articles

Smotrich dismisses dire warnings by top Treasury officials

March 21, 2023

Amazon, Target pick up Bed Bath & Beyond’s lost market share – BofA (NASDAQ:BBBY)

March 21, 2023


Michael M. Santiago/Getty Images News

Major averages slumped and yields rose on Friday after September payrolls rose a little more than expected and unemployment fell with a decline in labor force participation.

The Dow (DJI) is -1.7%, the S&P 500 (SP500) is -2.1%, and the Nasdaq Composite (COMP.IND) is -2.7%.

The 10-year Treasury yield (US10Y) is up 8 basis points to 3.90% and the 2-year yield (US2Y) is up 6 basis point to 4.31%.

“A 263,000 September jobs gains was slightly above market expectations while the unemployment rate dipped sharply to 3.5% versus a 3.7% forecast,” SA contributor Mike Zaccardi said. “Coming in-line with consensus estimates were month-on-month and year-on-year hourly earnings figures. The all-important labor force participation rate came in light at 62.3%.”

The drop in participation and the jobless rate will likely keep the Fed on track for a hike of 75 basis points at the next meeting. Fed funds futures are pricing in a 74% chance of that.

“Overall, I see the data as being on the ‘hot’ side, suggesting the labor market remains tight,” Zaccardi said. “We’ll see how markets ‘react to the reaction’ as the morning progresses, but bulls point to strong seasonal trends that begin right about now. Bears have a very uncertain earnings season along with an uncertain CPI figure next week that both could draw volatility.”

ADSS, an international brokerage highlighted: “The US jobs market has maintained its strong position despite adding 52,000 less jobs than the previous month. With 263,000 new jobs in September, this slowdown in job growth still represents a healthy expansion, however, it may be difficult to sustain in the mid to long term given the growing concerns of a recession and dipping consumer sentiment on the back of inflation and interest rate hikes.”

Among active stocks, AMD is down after a miss in preliminary Q3 sales.

Tags: DowDropsFallJoblessNasdaqPointsRatessink

Related Posts

Smotrich dismisses dire warnings by top Treasury officials

by Oren Dori
March 21, 2023
0

Opposition to the government's judicial overhaul has reached boiling point in the Ministry of Finance. Last night, Minister of...

Amazon, Target pick up Bed Bath & Beyond’s lost market share – BofA (NASDAQ:BBBY)

by Freddie Green
March 21, 2023
0

Joe Raedle/Getty Images News According to a survey results published by Bank of America on Tuesday, retail leaders are consolidating...

Toro Company Declares $0.34 Quarterly Dividend; 1.2% Yield By Investing.com

by Investing.com
March 21, 2023
0

Toro Company (TTC) Declares $0.34 Quarterly Dividend; 1.2% Yield Toro Company (TTC) declared a quarterly dividend of $0.34 per share,...

New KRAs added to CPSE brass’ appraisal

by Freddie Green
March 21, 2023
0

Top management of central public sector enterprises and their subsidiaries will be assessed for the performance of their companies in...

Ripple’s XRP jumps 20% on hopes of beating SEC in court

by Marco Quiroz-Gutierrez
March 21, 2023
0

Ripple’s prolonged battle with the Securities and Exchange Commission could wrap up soon, and fans of its native crypto XRP...

Load More

Mineral miner NioCorp shares fall 8% in wake of uplisting, SPAC merger (NIOBF)

March 21, 2023

Smotrich dismisses dire warnings by top Treasury officials

March 21, 2023

Park City Group Declares $0.015 Quarterly Dividend; 1% Yield By Investing.com

March 21, 2023

Republican US senator doubles down on call for tighter Fed scrutiny By Reuters

March 21, 2023

Best Stock Screeners to Enhance Your Trades

March 21, 2023

*HOT* Amazon Fire HD 10″ 32GB Tablet only $69.99 shipped (Reg. $150!)

March 21, 2023
Sixsense News

© 2022 Sixsense News All Rights Reserved.

Navigate Site

  • Terms and Conditions
  • Privacy Policy
  • DMCA
  • Disclaimer
  • Cookie Privacy Policy
  • Contact Us

Follow Us

No Result
View All Result
  • #3158 (no title)
  • Business
  • Economy
  • Finance
  • Fintech
  • Insurance
  • Market
  • Startups

© 2022 Sixsense News All Rights Reserved.