LAST UPDATE: 19:05
On Wall Street, buyers are trying to react, seeking to reverse the initial downturn and mitigate the new “hammer” in the tech industry. The Dow Jones Industrial Average has already returned to positive territory, with the S&P 500 and Nasdaq lowering their initial higher losses after data on new jobs in the US were announced in December, which did not meet analysts’ estimates. in an indication that the recent outbreak of coronavirus due to the highly contagious Omicron mutation is beginning to weigh on economic activity.
The weaker data, however, is estimated to lack the momentum to derail the US Federal Reserve’s intention to reduce tapering and accelerate interest rate hikes in 2022 to tame inflation.
In particular, the American economy continued to create new jobs in December, leading to further reductions in unemployment, adding another 199,000 jobs at the end of the year, but losing analysts’ estimates of 400,000 in a Reuters poll.
The unemployment rate, meanwhile, fell to 3.9% from 4.2% last month, with analysts expecting a smaller drop to 4.1%.
Government figures for November were revised upwards showing 249,000 jobs out of the 210,000 originally announced.
“The weaker-than-expected employment report came as a surprise, but we remind investors that the monthly job numbers are subject to revisions in the coming months,” said Jay Pestrichelli, CEO of ZEGA Financial.
In the meantime, his performance 10-year US government bond amplified by 0.5 bp. at 1.779%, while since the beginning of the week it has added about 23 bp. The dollar loses 0.3% on Friday, however in the week so far adds 0.1%.
Indicators – Statistics
On the board, the Dow adds 94 points or 0.26% and moves to 36,330.81 points, the widest S&P 500 loses 0.13% to 4,689.90 points and the technological Nasdaq slips by 0.63% to 14,985.70 points.
In week, the first of 2022, all three indices are heading towards losses. So far, the Dow is down 0.2%, the S&P is losing 1.3%, while the biggest drop is recorded by the Nasdaq, which is slipping by 3.2%.
From 30 shares that make up the Dow, in today’s session 17 are moving with a positive sign and 13 with a negative. Honeywell (+ 2.31%) and Verizon (+ 2.22%) lead the gains, while Home Depot (-2.33%) and United Health Group (-2.13%) record the biggest losses.
Gap is in the spotlight after the announcement of Kanye West’s partnership with Balenciaga luxury goods company for a Yeezy collection to be available at Gap. GAP share is down 1.5%.
Boot Barn adds more than 3%, as the retail company pre-announced the results for the third quarter of the financial year, which are better than expected.
CinCor Pharma debuted on the Nasdaq on Friday, with the biopharmaceutical stock available at $ 16, averaging between $ 15 and $ 17 in the initial public offering.
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I am Sophia william, author of World Stock Market. I have a degree in journalism from the University of Missouri and I have worked as a reporter for several news websites. I have a passion for writing and informing people about the latest news and events happening in the world. I strive to be accurate and unbiased in my reporting, and I hope to provide readers with valuable information that they can use to make informed decisions.
