The New York Stock Exchange opened sharply lower on Thursday, showing signs of unrest despite positive US indicators for the job market. At 2:00 p.m. GMT, the Dow Jones lost 0.51%, the Nasdaq 1.25% while the S&P 500 fell 0.80%.
The day before, the clues had progressed modestly. The Dow Jones had climbed 0.07% to 34,600.38 points. The high-tech Nasdaq was up 0.14% at 13,756.33 points and the S&P 500 extended index was up 0.14% at 4,208.12 points.
On Wednesday, the New York place had been animated by the frenzy around the highly speculative title of the American chain of cinemas AMC, whose sudden doubling of the price caused the suspension of its quotation on several occasions.
The company announced Thursday the sale of 11.5 million new shares, however warning investors that they should “be prepared to take the risk of losing all or part of their investment.”
The title, which had jumped 95.22% the day before to finish at 62.55 dollars, fell 19% Thursday shortly after the opening.
Overall, “stocks were trading lower at the start of the session despite new signs of economic recovery, with markets remaining agitated,” Schwab analysts noted.
On the macroeconomic front, while the market will have its eyes fixed on the official report on US employment in May expected Friday, weekly claims for unemployment benefits fell, for the first time since the pandemic, below the bar. of the 400,000.
At 385,000 for the week ended May 29, they fell 20,000, better than expected by analysts. In addition, job creation in the private sector in May jumped to 978,000, also well beyond analysts’ estimates, according to the monthly survey of the firm ADP.
This bodes well for labor market figures which, according to Briefing.com’s median estimates, are expected to show 720,000 job openings and push the unemployment rate down to 5.9%.
The eleven sectors of the S&P 500 were all in the red, starting with the information technology (-1.41%) and communication services (-1.19%) sectors, which are very sensitive to inflation.
Rates on 10-year Treasuries were up 1.61% from 1.58% the day before.
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