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Wall Street with a bright red day is already watching the employment data – the stock market

Wall Street with a bright red day is already watching the employment data – the stock market

On the eve of the release of data on job creation and the unemployment rate in the US in September, the New York Stock Exchange closed with very slight declines. Investors are waiting for signs of weakness in the labor market, so that the Federal Reserve does not have any arguments to raise interest rates.

With attention already focused on the official employment data – job creation, unemployment rate and wages – for September, which will be released on Friday, the New York Stock Exchange held a hold today, closing on very minor setbacks.

The Dow Jones index fell 0.03% to 33,119.57 points, while the S&P 500 and Nasdaq technology indexes closed almost equal: the first lost 0.13% to 4,258.19 points, while the second lost 0.12%, ending the day at 13,219.83 points. .

“Tomorrow’s employment report may be the most important of the year,” Tom Isay, a former Merrill Lynch trader, says in his Bloomberg newsletter. If the numbers are very strong and the yield on US 10-year debt approaches 5%, “we could easily see the S&P 500 fall below the moving average.”
“For 200 days, after which we may see an acceleration in the fall of stocks,” he wrote.

Interest rates on US 10-year debt fell to 4.72% after reaching 4.88% this week, the highest level since 2007.

Among the declines witnessed today, electric car manufacturer Rivian stood out, with a decline of 22.88%, after it indicated on Wednesday night that sales this quarter would be lower than analysts’ estimates, and after it announced that it would issue convertible bonds worth $1.5 billion. In the electric car sector, Lucid shares fell by 7.19%, while Tesla shares fell by 0.45%.

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Amazon, which owns a stake in Rivian, fell by 0.82%.