US stock markets closed in negative territory, on a day when investors digested new economic data and how these could affect the monetary policy decisions of the Federal Reserve (Fed).
Create the largest economy in the world 209,000 jobs in June below than the 230,000 expected by economists. The unemployment rate fell from 3.7% in May to 3.6%. This data became known a day after ADP said that the private sector created nearly half a million jobs in the same month, causing panic among investors.
This is because one of the indicators that the Federal Reserve takes into account when raising interest rates is the health of the labor market, and as a result the strength of the private sector has fueled fears of an exacerbation of the cycle of hikes in headline rates. These concerns were allayed with the less robust data released today. However, the market now considers it more likely that the Fed will raise interest rates again at this month’s meeting, in July.
The Standard & Poor’s 500 Index fell by 0.29% 4,398.95 point, the Dow Jones Industrial Average fell 0.55% to
Among the main movements, Levi Strauss Its value fell more than 7% after it cut its forecast for the year, while Rivian Automotive gained more than 14% after seeing its share price revised upward.
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