Börse Express – New York stocks: US stock exchanges stable according to labor market data

NEW YORK (dpa-AFX) – Amid the tension between positive economic signals and worries about faster monetary policy tightening, the US stock exchanges moved little on Friday. The US economy created significantly fewer jobs than expected in December, but the continued decline in the unemployment rate returned to pre-crisis levels.

The Dow Jones Industrial held up in early trading
stable with plus 0.01 percent to 36 239.11 points. After the two previous two days with some heavy losses, the best-known Wall Street index is slightly in the red in the first week of trading of the year.

The S&P 500 fell on Friday by 0.09 percent to 4691.70 points. For the tech-heavy Nasdaq 100
it went down by 0.28 percent to 15,720.98 points. For him, it has so far been down 3.7 percent on balance in the first week of trading. Tech investors worry that rising interest rates could slow the momentum in the growth industry.

The official job report was eagerly awaited after the very strong data from the private service provider ADP on Wednesday. Although it was again weaker than expected in terms of job creation, “against the background of the unemployment rate, which has fallen to 3.9 percent and the strong wage increases, the Fed is likely to see confirmation of the decided, faster pace in reducing bond purchases” , commented economist Ralf Umlauf from Helaba./ck/he

 ISIN  US2605661048  US6311011026  US78378X1072

AXC0202 2022-01-07/16:31

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